= (PEP)

A UK system, established in 1986, by which individuals could invest a limited sum each tax year in shares and unit trusts, through a financial intermediary. PEP investments were then free from both income and capital gains tax, subject to a minimum holding period. The financial intermediaries charged for their services in managing PEPs. PEPs were introduced to encourage savings, and to promote individual involvement in the company sector. They were replaced by Individual Savings Accounts (ISAs) in 1999.

• diminishing returns, law of
• direct investment abroad
• direct investment, foreign
• direct labour
• director
• directorates, interlocking
• direct tax
• dirigisme
• dirty floating
• discomfort index
• discount
• discounted cash flow
• discounted present value
• discount house
• discounting the future
• discount rate
• discount window
• discouraged worker
• discrete distribution
• discrete time
• discrete variable
• discretionary policy
• discretionary spending
• discriminating monopoly
• discrimination