§ Mr. Chris Smith
To ask the Chancellor of the Exchequer for each year that personal equity plans have been in operation what is(a) the number and proportion of people with personal equity plans who are on the higher rate of tax and (b) the cost to the Exchequer in total of personal equity plans and per person with a personal equity plan.
§ Mr. Lilley
Information on personal equity plans is available only in respect of the number of plans and the amounts invested.
Estimates of the costs to the Exchequer are as follows:522W
Total Per Personal Equity Plan (£ million) (£) 1986–87 Negligible Negligible 1987–88 5 10 1988–89 15 35 1989–90 20 30
Costs are expected to increase in future.