§ Mr. ChopeTo ask the Chancellor of the Exchequer, pursuant to his answer of 19 November 2001,Official Report, column 135W, on Equitable Life, if he will give the total cost of the review; what is the sum of the costs which have already been recovered by way of fees imposed by (a) the PIA and (b) the Treasury; and what the total is of the remaining costs to be recovered by the FSA by way of fees. [20286]
§ Ruth KellyThe FSA has informed me that its total costs in preparing the review were around £4 million, of which £1.3 million was incurred in the FSA's financial year ending 31 March 2001. These costs will have been recovered by £1.07 million of fees charged on behalf of the insurance directorate and £0.23 million on behalf of the PIA. The balance of £2.7 million will be recovered by subsequent fees.