INDUSTRY READY TO PLAY ITS PART

Responding to the Treasury Select Committee’s report “Restoring confidence in long-term savings” Richard Saunders, Chief Executive of the IMA, commented: 

“ The report is a constructive contribution to the debate. It throws down some interesting challenges for us to consider and the IMA will continue to encourage the fund management industry to play its part. Better-informed and educated investors are in everyone’s interests and we will look closely at the Committee’s recommendations in this area.

“We particularly welcome the Committee’s recognition of the substantial scope for improving the present complex regime for the taxation of savings. IMA will be publishing its own proposals for simplification in the autumn.”

-Ends-

For further information, please contact:

Helen Stephenson, Communications Officer, IMA, 020 7831 0898

Out of hours contact:

Mona Patel, Head of Communications, IMA, 07834 089332

Notes to Editors:

IMA submitted written evidence to the Treasury Select Committee’s inquiry into “Restoring confidence in long-term savings” on 12 January 2004. Report is attached.

IMA, represented by Richard Saunders - Chief Executive, Lindsay Tomlinson - Chairman and Simon Ellis – Chairman Investment Funds Committee, gave oral evidence to the Committee on 6 May 2004. A transcript of the oral evidence can be found on the website of the UK Parliament at www.publications.parliament.uk/pa/cm200304/cmselect/cmtreasy/uc71-vi/uc7102.htm

IMA submitted follow up evidence to the Committee on 19 May 2004. Report attached.

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Investment Management Association is a company limited by guarantee registered in England and Wales Registered number 4343737.  Registered office as above.