National Savings Certificates.

Oral Answers to Questions — Peace Treaties. – in the House of Commons on 16th February 1922.

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Photo of Lieut-Colonel Sir Assheton Pownall Lieut-Colonel Sir Assheton Pownall , Lewisham East

59.

asked the Chancellor of the Exchequer whether his attention has been called to the fact that, while war savings certificates, issued at 15s. 6d., become 20s. at the end of the first 5 years and 26s. at the end of 10 years, at the end of a further period of 5 years the increase is only a further 5s.; and whether, if Os. is the increase for the second period of 5 years, on the larger sum which will be left at the end of 10 years 7s. 6d., i.e., a flat rate of 1½d. per certificate per month, can be allowed?

Photo of Sir Robert Horne Sir Robert Horne , Glasgow Hillhead

I cannot see my way under present circumstances to improve the terms, already very favourable, on which savings certificates are offered. As already announced the usual price will be raised next April to 16s.