HC Deb 07 March 1889 vol 333 cc1117-8
MR. HUBBARD (Bucks, N.)

asked the Postmaster General if his attention has been drawn to the following facts: that a man, 21 years old next birthday, can assure £10 at his death in the Post Office Savings Bank, by an annual premium of 4s. 2d., that the Prudential Assurance Company only offer to a man, 21 years old next birthday, £8 9s. at death, in return for a weekly premium of 1d.; that, despite the apparent advantage to insurers at this age, and at any age, of an insurance in the Post Office, only 6,859 contracts for £447,300, payable at death, "entered into by Her Majesty's Postmaster General," were in existence on December 31st, 1887, while the Prudential Assurance Company (Industrial Branch) acknowledged 6,904,000 policies for £64,200,000, as existing on December 31st, 1886; whether he will consider the best means of helping the saving public to avail themselves more of the larger benefits offered by Her Majesty's Government; and, whether, to assist them, he would re-issue a Departmental handbook on the lines of "The Post Office Aids to Thrift," published by Mr. Fawcett in 1881?

THE POSTMASTER GENERAL (Mr. RAIKES,) University of Cambridge

Without making myself responsible for the accuracy of all the figures quoted by my hon. Friend, I would point out that the Post Office has brought its system of insurance and annuity into almost every village in the Kingdom, and has spared no means at its disposal of making known the advantages which it offers; and it rests with the public to avail itself of them. I can only hope that the attention which the hon. Member is now calling to the matter will promote the object which he has in view—an object with which I entirely sympathize. The Post Office handbook, incorporating the essential points contained in Mr. Fawcett's edition, entitled, "The Post Office Aids to Thrift," is published every six months, and may he obtained at any post office. I shall, however, be glad to consult the Treasury as to the practicability of circulating further information on this most important subject.