HC Deb 20 March 1928 vol 215 cc206-7
53. Mr. DAY

asked the Financial Secretary to the Treasury the amount of unclaimed deposits in the hands of the Post Office Savings Bank for which no application has been made during the last 10 years?

Mr. SAMUEL

Statistics of the deposits in the Post Office Savings Bank on which no transactions have taken place for 10 years could only be obtained by an analysis of some 10,000,000 accounts. I do not think that the cost of this analysis would be justified. Moreover, it would be impossible to take as the test of an unclaimed deposit the fact that no application has been made for 10 years. Applications are frequently received after much longer intervals.

Mr. W. THORNE

Can the hon. Gentleman state in what way or by what Department this interest is being used?

Mr. SAMUEL

All these matters are dealt with by the Post Office, and I can only suggest that the hon. Gentleman should address a question to that Department.

Mr. THORNE

Do I understand that the Postmaster-General pinches all the interest on this money?

Mr. SAMUEL

I am not aware that the Postmaster-General pinches anything.