§ Mr. Ian TaylorTo ask the Chancellor of the Exchequer how many Inland Revenue approved executive share option schemes currently exist; what proportion are linked to approved savings-related share option schemes; and what are the respective values of both schemes.
§ Mr. Dorrell[holding answer 29 April 1994]: Up to 31 March 1994, 5,680 discretionary—executive—share option schemes had been approved by the Inland Revenue; 3,981 of these schemes are believed to be currently in operation. In 1991–93, the latest year for which relevant figures are available, some 2 per cent. of discretionary schemes were granted options at a discount, under the linkage provisions introduced in the Finance Act 1991, because they also had an approved savings-related share option scheme. The total initial value of shares over which options were granted in 1992–93 under approved discretionary share option schemes was £1.6 billion; the corresponding figure for approved savings-related share option schemes is £1.88 billion.