HC Deb 01 December 1998 vol 321 c154W
Mr. Sayeed

To ask the Chancellor of the Exchequer if he will list those consulted and the comments made by them in the consultation process, on the basis of which the Inland Revenue estimated that the start up costs of ISAs would be £250 million. [61184]

Ms Hewitt

The Revenue received almost 300 responses to the original ISA consultation, and over 100 to the later consultation on the draft ISA regulations, from trade bodies or firms. Officials attended a large number of meetings with industry bodies, and took part in several industry conferences between January and July. Detailed questions about compliance costs were followed up with a number of organisations. Details of these discussions cannot be released for reasons of commercial confidentiality.

Mr. Sayeed

To ask the Chancellor of the Exchequer what information is required by his Department to provide a breakdown of the costs incurred for new computer installation, staff and sales force re-training and administration for the start-up of ISAs; and what steps he intends to take to(a) acquire that information and (b) make such estimates. [61183]

Ms Hewitt

We shall monitor the ISA scheme as it develops, and this will include compliance cost issues.