HC Deb 23 July 1929 vol 230 c1077
55. Sir G. PENNY

asked the Financial Secretary to the Treasury whether he can see his way to increase the rate of interest to 3 per cent. on deposits in the Post Office Savings Bank?

Mr. PETHICK-LAWRENCE

I would refer the hon. Member to the reply given by my right hon. Friend the Chancellor of the Exchequer to a question by the hon. Member for Gravesend (Mr. Albery) on the 11th July of which I am sending him a copy.

Sir G. PENNY

What has made the hon. Gentleman change his opinion in regard to the amount to be paid on these deposits, since he stated at the beginning of the year that there was no reason for higher interest not being paid?

Mr. PETHICK-LAWRENCE

There is no discrepancy at all. The hon. Member asked what steps are going to be taken, and the answer is that the matter is receiving consideration.

Mr. BUCHANAN

Is the hon. Gentleman aware that there is really no public demand for any increase of this interest at all?