HL Deb 25 February 1999 vol 597 cc135-4WA
Lord Barnett

asked Her Majesty's Government:

Whether they can confirm that under a first TESSA it is impossible to invest less than £3, 000, but that this will not apply in the case of ISAs. [HL1051]

Lord Mclntosh of Haringey

There is no such restriction. The Regulations for TESSAs and ISAs each set maximum amounts which can be saved in a year. In the case of a first TESSA, this maximum is £3, 000 for the first year. The regulations do not set a minimum contribution limit, although some providers may set minimum limits for particular accounts.