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Amendment of the Law

Part of Budget Resolutions and Economic Situation – in the House of Commons at 7:34 pm on 21st March 2000.

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Photo of Sally Keeble Sally Keeble Labour, Northampton North 7:34 pm, 21st March 2000

I thank the hon. Gentleman for being so patient.

According to the M & G Great Britain savings survey, which was published this month—the consumer research was done last month—9 per cent. of the population held an ISA, while 10 per cent. held a TESSA and 10 per cent. had a PEP. It must be borne in mind that many people will have had both PEPs and TESSAs. That constitutes a resounding success for ISAs: a couple of months ago, at the end of the first year, 9 per cent. of the population already had one. I emphasise that the survey was independent.