§ Mr. Nicholas BrownTo ask the Chancellor of the Exchequer if he will list, for each year that PEPs have been in operation(a) the number and proportion of people with PEPs who are on the higher rate of tax and the number on the basic rate and (b) the cost to the Exchequer in total of PEPs and per person with a PEP.
§ Mr. Maude[holding answer 25 February 1991]: Information on personal equity plans is available only in respect of the number of plans and the amounts invested. Estimates of the direct revenue costs are as follows:
Total (£ million) Per Personal Equity Plan £ 1986–87 2 2 1987–88 5 10 1988–89 15 35 1989–90 20 25 1990–911 45 35 1 Provisional. 2 Negligible.
§ Mr. Nicholas BrownTo ask the Chancellor of the Exchequer if he will list for each year that PEPs have been in operation(a) the number of people with PEPs, (b) the average holding per person in a PEP and the distribution of holdings and (c) the distribution of PEP holdings by region.
§ Mr. Maude[holding answer 25 February 1991]: Information is not available in the form requested.
437WThe number of plans taken out since the introduction of personal equity plans is estimated as follows:
Number 1987 270,000 1988 120,000 19891 580,000 19902 200,000 Total 1,170,000 1 Includes the first quarter of 1990. 2 Second and third quarters of 1990. The average value of the investment in each plan at the end of the year is estimated as follows:
£ 1987 1,650 1988 1,950 1989–90 2,900 There is no information available on the distribution of the level of investments or the regional distribution of investors.