§ Mr. Love
To ask the Chancellor of the Exchequer what research his Department has evaluated in respect of the average gross salary of those who have taken out(a) PEPs and (b) TESSAs in each year since their introduction. 
§ Mr. Geoffrey Robinson
The distribution by income of the take-up of PEPs and TESSAs is not available from Inland Revenue records. However information on take-up by household income based on data from household surveys was published in November 1997 by the Institute for Fiscal Studies in "Commentary 66—Taxing Household Saving: What role for the new individual savings accounts?". The proportion of holders in the various income tax bands has also been considered in a survey conducted by NOP.
Generally the proportion of those holding PEPs and TESSAs increases with household income. The two key objectives of the Budget proposals for a new savings account are to develop and extend the savings habit and to ensure that tax relief on savings is fairly distributed.