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National Savings Certificates

Oral Answers to Questions — National Finance – in the House of Commons at 12:00 am on 19th November 1957.

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Photo of Mr Percy Morris Mr Percy Morris , Swansea West 12:00 am, 19th November 1957

asked the Chancellor of the Exchequer if, in view of the increase of the Bank rate, he will agree to increase the maximum holding of the tenth issue of National Savings Certificates with a view to encouraging saving amongst people of modest means.

Photo of Mr Peter Thorneycroft Mr Peter Thorneycroft , Monmouth

I am not proposing to make any changes in the terms of National Savings at the present time.

Photo of Mr Percy Morris Mr Percy Morris , Swansea West

Does not the right hon. Gentleman think it would be a much more worthy way of encouraging people to save than the very doubtful expedient of Premium Savings Bonds?

Photo of Mr Peter Thorneycroft Mr Peter Thorneycroft , Monmouth

I do not think it would help at all if I were to forecast changes in the terms of National Savings Certificates.