National Savings Groups

Oral Answers to Questions — National Finance – in the House of Commons on 8th September 1942.

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Photo of Mr William Craven-Ellis Mr William Craven-Ellis , Southampton

asked the Chancellor of the Exchequer what was the number of savings groups upon the latest date recorded and the number on the corresponding date of 1941 for the United Kingdom; what was the cost of the advertising undertaken by the National Savings Committee for the year ended 31st June, 1942, and the comparative figure for 31st June, 1941; and what were the management, executive and clerical expenses for the year ended June, 1942, and the comparative figure for June, 1941?

Photo of Sir Kingsley Wood Sir Kingsley Wood , Woolwich West

With my hon. Friend's permission I will circulate a statement in the OFFICIAL REPORT.

Photo of Mr William Craven-Ellis Mr William Craven-Ellis , Southampton

Is the Chancellor satisfied with the organisation of the National Savings Committee, and has the time not arrived when it should be completely reorganised?

Photo of Sir Kingsley Wood Sir Kingsley Wood , Woolwich West

No, I do not accept that suggestion at all. Like all other organisations, it is no doubt capable of improvement, but it has met with great success.

Photo of Mr Alfred Edwards Mr Alfred Edwards , Middlesbrough East

Is it not a fact that thousands of people are completely wasting their time in these efforts?

Following is the statement:

(a) National Savings Groups

1941.1942
Number of Groups in existence at 31st August227,500291,620
Estimated total membership of groups13,282,00016,664,000

(b) Cost of War Savings Campaign. The following figures relate to the cost of the Campaign conducted by the three National Savings Committees and the Post Office, and do not include the cost of issuing or managing Government Securities:—
Year ended 30th June
19411942
£000
(1) Advertising and Publicity704687
(2) Administration353501
(3) Accommodation and Stationery109131
Total1,1661,319
Cost of Campaign per £100 subscribed during the period1s. 6d.1s. 6d.