Vol. 543 No. 4
62 Mr. McGrath asked the Minister for Finance the number of investors who have enrolled for the special savings incentive account since its introduction; the cost on a monthly basis to the Exchequer in providing the top-up funds to these accounts; the projected annual cost and five year cost to the Exchequer based on investments to date; the projected take-up on this scheme; the projected annual cost; and if the investments to date have surpassed his expectations. [27286/01]
The number of special savings incentive accounts in operation will not be available until after 28 February 2002, when the first comprehensive annual returns giving details of individual accounts are furnished by the qualified savings managers.
The cost to the Exchequer to date, on a monthly basis, of the tax credits paid to accounts opened is as follows:
|
2001 |
Total Subscriptions |
Total Tax CreditsClaimed* |
|
May |
£6.17 million(7.84 million) |
£1.53 million(1.94 million) |
|
June |
£19.35 million(24.57 million) |
£4.83 million(6.13 million) |
|
July |
£28.89 million(36.69 million) |
£7.21 million(9.16 million) |
|
August |
£34.67 million(44.03 million) |
£8.62 million(10.95 million) |
|
September |
£39.66 million(50.37 million) |
£9.98 million(12.67 million) |
|
Total |
£128.74 million(163.50 million) |
£32.20 million(40.90 million) |
