Premium Savings Bonds

Part of Oral Answers to Questions — Post Office – in the House of Commons at 12:00 am on 11 December 1957.

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Photo of Mr Henry Hynd Mr Henry Hynd , Accrington 12:00, 11 December 1957

As I understand that the "Z" denotes bonds of £500 denominations, does not that reply prove two things? First, that it is true, as has always been contended from this side of the House, that the bulk of the money put into Premium Bonds is not new savings but money put into a tax-free investment that would otherwise have been invested in more profitable enterprises and, secondly, that what the old Book said is still true, "whosoever hath, to him shall be given"?