Individual Savings Accounts: AIM Shares — Question

Part of the debate – in the House of Lords at 2:44 pm on 31st January 2012.

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Photo of Lord Sassoon Lord Sassoon The Commercial Secretary to the Treasury 2:44 pm, 31st January 2012

My Lords, this is a Question that we come back to on a regular basis and my answers are going to sound boringly repetitive. I see the noble Lord, Lord Myners, in his place. He answered this Question in the dying days of the previous Government. The simple fact is that the ISA is a trusted brand in which more than 23 million adults-45 per cent of the adult population-hold shares, and we need to protect that trusted brand and the suite of products within it. On the other hand, the Government have taken a range of measures to support small businesses. In relation to SIPPs, the liquidity requirements of an ISA with a 30-day withdrawal period, in particular, are very different from what might be the case when locking up shares for the long term in a pension savings product.