Savings Certificates

Oral Answers to Questions — National Finance – in the House of Commons at on 6 October 1942.

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Photo of Sir Frank Sanderson Sir Frank Sanderson , Ealing

asked the Chancellor of the Exchequer whether he is aware that the limiting of a holder of savings certificates to 500 is a deterrent to saving; and, with a view to encouraging the small saver and the popularity of savings certificates, will be consider increasing the amount that any one person can hold to 1,000?

Photo of Sir Kingsley Wood Sir Kingsley Wood , Woolwich West

I would refer my hon. Friend to the answer I gave on 29th September, a copy of which I am sending to him.

Photo of Sir Frank Sanderson Sir Frank Sanderson , Ealing

As there are millions of small investors who have already purchased the maximum amount of saving certificates permitted, and in view of the recognised popularity of this form of investment, will my right hon. Friend consider the issue of a second series at a slightly increased cost?

Photo of Sir Kingsley Wood Sir Kingsley Wood , Woolwich West

The whole matter is receiving my consideration.

Photo of Mr William Cluse Mr William Cluse , Islington South

Is it not a question of loss of Income Tax?

Photo of Sir Kingsley Wood Sir Kingsley Wood , Woolwich West

That is one matter I have to take into account.