National Savings

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

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Photo of Mr John Cronin Mr John Cronin , Loughborough 12:00 am, 19th December 1957

asked the Chancellor of the Exchequer if, having regard to the effects of the 7 per cent. Bank Rate, he will take steps to improve forthwith the terms of National Savings.

Photo of Mr Enoch Powell Mr Enoch Powell , Wolverhampton South West

I would refer the hon. Member to the reply given by my right hon. Friend to the hon. Member for Swansea, West (Mr. P. Morris) on 19th November.

Photo of Mr John Cronin Mr John Cronin , Loughborough

Without wishing to tempt the hon. Gentleman to indulge in any kind of leak, may I ask him whether he agrees that the only two alternatives are a serious deterioration in National Savings or a lowering of the Bank Rate?

Photo of Mr Enoch Powell Mr Enoch Powell , Wolverhampton South West

As my right hon. Friend said on that occasion, I do not think it would help at all if I were to forecast changes in the terms of National Savings…"—[OFFICIAL REPORT, 19th November, 1957; Vol. 578, c. 154.]