HC Deb 06 May 1931 vol 252 cc387-8
44. Mr. TINKER

asked the Postmaster-General the average amount of money deposited in the Post Office in 1930 under the direction of the court dealing with the allocation of the sums awarded under the Workmen's Compensation Act; the amount of interest paid on it; and the rate of interest?

The ASSISTANT POSTMASTER-GENERAL (Mr. Viant)

The average amount of the deposits made in the Post Office Savings Bank in 1930 as awards under the Workmen's Compensation Acts was £218, namely, 3,916 awards totalling £852,710 in the aggregate. The amount of interest paid cannot be ascertained without considerable inquiry. The usual rate of interest, 2½ per cent. per annum, is paid.

Mr. TINKER

Is the rate of interest fixed, or does it fluctuate?

Mr. VIANT

The rate of interest is fixed, at 2½ per cent.

Mr. TINKER

Will my hon. Friend let this be known to the persons who have money put out in that way, as there is a lot of discontent about it?

Mr. VIANT

I thought it was generally known, and that the information was generally available.

Mr. TINKER

My hon. Friend may be right in that, but the applicants do not know about it, and I would like them to get to know.