§ Mr. Tim SmithTo ask the Chancellor of the Exchequer how many personal equity plans have been taken out in 1988 to date; what was the comparable figure in 1987; what was the total figure for 1987; and what was the original Treasury forecast of take-up for 1987.
§ Mr. Norman Lamont[holding answer 2 November 1988]: About 100,000 personal equity plans have been started so far in 1988. The comparable figure for 1987 was about twice that, and the full-year total was over 250,000.
When personal equity plans were announced in the 1986 Budget it was recognised that take-up would be heavily influenced by external factors. The estimated cost of the scheme assumed that take-up could reach 500,000 in the first year.