§ Mr. Peter BottomleyTo ask the Chancellor of the Exchequer what proportion of new long-dated government borrowing is from the accumulated funds of(a) insurance linked saving, (b) a personal equity plans and (c) tax-exempt special savings accounts.
§ Mr. NelsonInformation is available only for the net investment in long-dated government stock by insurance companies, unit and investment trusts up to September 1994.
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Table: Net investment in British Government Securities (over 15 years maturity and undated). £ million and as a percentage of long gilt insurance. 1993–94 1994 (April-September) £ million Percentage £ million Percentage Insurance Companies 7,943 66.7 1,951 85.4 Unit Trusts 86 0.7 -31 -1.4 Investment Trusts 114 1.0 -54 -2.4 Source:
CSO, "Financial Statistics", tables 1.2C, 5.1A, 5.2C and 5.2D.
No information is available on the proportion of PEP funds specifically invested in long-dated gilts. TESSAs represent a significant proportion of bank and building society retail funds. Although bank and building societies currently own around 9½ per cent. of UK government stock, these holdings are predominantly of short and medium-dated issues. No information is available on their recent transactions in long-dated stock.