Debate on the Address

Part of Orders of the Day — Queen's Speech – in the House of Commons at 12:00 am on 3 November 1959.

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Mr. Amory:

Very little indeed. Without notice I could not say exactly how much, but the percentage has fallen almost insignificantly over the past eighteen months. However, I will write to the right hon. Gentleman and let him know the position. Before that, there was a very substantial fall.

I come now to the third of the three requirements for a sound basis for the economy. What about savings? I agree that this certainly is the real factor behind the problem that the right hon. Gentleman posed to us earlier. It is very difficult to over-estimate the importance of a high rate of saving. So far this financial year National Savings have continued at a very satisfactory level, and a level which has exceeded our expectations. If they continue in this way we hope that they will do as well as they did last year, when the result was excellent. Other personal savings, too, seem to be maintaining their recent buoyant level.