Written question asked by Christopher Chope (Conservative) on Wednesday, 28 November 2001, in the House of Commons. It was due for an answer on Monday, 3 December 2001. It was answered by Ruth Kelly (Labour) on Monday, 3 December 2001 on behalf of the Treasury.

Treasury

Question: To ask Mr Chancellor of the Exchequer, pursuant to his Answer of 19th November 2001, 375 c135W, on Equitable Life, if he will give the total cost of the review; what is the sum of the costs which have already been recovered by way of fees imposed by (a) the PIA and (b) the Treasury; and what the total is of the remaining costs to be recovered by the FSA by way of fees. - Including figures.

Answer: Mr. Chope: To ask the Chancellor of the Exchequer, pursuant to his answer of 19 November 2001, Official Report, column 135W, on Equitable Life, if he will give the total cost of the review; what is the sum of the costs which have already been recovered by way of fees imposed by (a) the PIA and (b) the Treasury; and what the total is of the remaining costs to be recovered by the FSA by way of fees. [20286] Ruth Kelly: The FSA has informed me that its total costs in preparing the review were around £4 million, of which £1.3 million was incurred in the FSA's financial year ending 31 March 2001. These costs will have been recovered by £1.07 million fees charged on behalf of the insurance directorate and £0.23 million on behalf of the PIA. The balance of £2.7 million will be recovered by subsequent fees.

Secondary information

Type: Written question
Reference: 20286; 376 c66-7W;376 c67W
Session: 2001-02
Subjects: Costs Fees and charges Financial Services Authority Equitable Life Assurance Society Treasury Reviews Personal Investment Authority
Contains statistics: Yes
Link: View this Written question on www.publications.parliament.uk