§ Mr. Chris SmithTo ask the Chancellor of the Exchequer what is his estimate of the cost to the Exchequer of the inclusion announced on 8 June of newly floated building society shares within personal equity plan portfolios; and what he expects the level of take-up to be.
§ Mr. Norman Lamont[holding answer 12 June 1989]: The cost to the Exchequer is expected to be negligible. The level of take-up will depend on the number of building societies converting to plc status and the extent to which personal equity plan managers offer the new facility.