Savings Certificates (Purchasing Power)

Part of Oral Answers to Questions — National Finance – in the House of Commons at 12:00 am on 2 December 1947.

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Photo of Sir Stafford Cripps Sir Stafford Cripps , Bristol East 12:00, 2 December 1947

A 15s. Savings Certificate bought in August, 1939, is worth 18s. 9d. today. Its future purchasing power, if cashed, depends on what is bought with the money, and it is therefore impossible to consider any such assurance as that suggested by the hon. Member.