§ Mr. FrenchTo ask the Chancellor of the Exchequer, pursuant to his answer of 28 November 1991,Official Report, column 588, if, in his regular review of the tax-exempt special savings account scheme, he will consider what measures may need to be taken to attract new money to the scheme rather than funds switched from other savings products.
§ Mr. MaudeThe objective of TESSA was to encourage the culture of thrift and, by giving tax relief only to accounts held for five years, to make savings less liquid. The proportion of new savings attracted into the scheme is likely to increase. The TESSA rules are designed to be as simple as possible and I have no current plans to change them.