§ Mr. SayeedTo ask the Chancellor of the Exchequer what plans he has to review the charges and tax incentives of CAT marked ISAs to encourage fund managers to provide managed equity funds to savers. [83702]
§ Ms HewittThere are no plans to change the CAT standards, or the tax treatment of CAT standard ISAs. To date, around 400 providers have registered as ISA managers. I expect many of these to sell stocks and shares ISAs which invest in managed funds.
§ Mr. SayeedTo ask the Chancellor of the Exchequer what plans he has to publicise the meaning of a CAT standard. [83701]
§ Ms HewittThe Treasury press release of 1 October 1998 explained the meaning of CAT standards. The Inland Revenue and the Financial Services Authority have both published guides to ISAs which explain CAT standards, as did the Government's ISA advertising campaign. In addition, FSA requires firms which sell CAT standard products to provide straightforward information in the marketing literature which sets out how the standards are met. Many firms' own ISA guides also explain CAT standards.