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&#39Treasury is ready to consider cap changes&#39

The Treasury consultation on the Sandler suite is expected to consider the possibility of different price caps for the products included in the suite, according to sources close to the Treasury.

The idea may not appear in the document, expected to be published this week, say sources, but it could be an outcome of the three-month consultation.

It is also expected to float the idea of the suite being ext-ended to include term insurance and a cash-based product in addition to the original equity-based funds, pensions and with-profits products outlined by Sandler.

The paper is expected to look at the specifications of the products, including their target audience and what is an appropriate charging structure.

The Treasury is still believed to be committed to the 1 per cent price cap for the products although the Government is said to be aware of the arguments but requires the industry to convince it of the need for change.

The source says: “The Treasury is aware of the arguments over the price cap but it is up to the industry to make the arguments. Quite clearly, a tracker or unitised product has different economics than a with-profits product. It is possible that different products within the suite could have different pricing structures. Although this may not be in the consultation, it could come as a result of it.”

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