Personal Equity Plans (Hansard, 10 January 1989)

§ Mr. John Marshall
To ask the Chancellor of the Exchequer what is his latest estimate of the number of personal equity plans taken out in 1988 and in 1987.

§ Mr. Gordon Brown
To ask the Chancellor of the Exchequer how many personal equity plans have been in existence in each year since the instigation of the scheme.

§ Mr. Norman Lamont
In 1987 over 250,000 plans were taken out and in 1988 it is estimated that a further 100,000 plans were started.

§ Mr. Gordon Brown
To ask the Chancellor of the Exchequer what has been the cost to the Exchequer to date of personal equity plans; and what is the anticipated cost in each of the next three years.

§ Mr. Norman Lamont
The available information is as follows:

Estimated cost of income tax relief £ million

1986–87 negligible

1987–88 5

1988–89 15

Costs in future years are expected to increase.

§ Mr. Gordon Brown
To ask the Chancellor of the Exchequer how many organisations have offered personal equity plans; how many have ceased to do so; and if he will list them by name.

§ Mr. Norman Lamont
Since the scheme was introduced in 1987, 129 organisations have offered personal equity plans. Details are not held on the number and names of organisations which have ceased to offer plans.

§ Mr. Gordon Brown
To ask the Chancellor of the Exchequer how many personal equity plan holders have a marginal tax rate of(a) 25 per cent. and (b) 40 per cent.

§ Mr. Norman Lamont
I regret that the information is not available.

	Estimated cost of income tax relief £ million
1986–87	negligible
1987–88	5
1988–89	15