Personal Equity Plans

HC Deb 19 February 1990 vol 167 cc521-2W

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:

	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.