§ Mr. FrenchTo ask the Chancellor of the Exchequer (1) what is his estimate of the average annual tax saving enjoyed by a typical investor in a £6,000 personal equity plan;
(2) what was the revenue cost of the capital gains tax concessions on personal equity plans in each of the last three years;
(3) what was the revenue cost of the tax concession on dividends in personal equity plans in each of the last three years.
§ Mr. DorrellLatest estimates of the income tax revenue costs are in the table. The average annual tax saving for a typical investor with a £6,000 PEP cannot be estimated, nor can a reliable estimate be made of the cost of tax relief on capital gains.
Estimated total cost of income tax relief £ million 1991–92 90 1992–93 120 1993–94 1140 1 Provisional.