HC Deb 13 July 1932 vol 268 cc1285-6

asked the Chancellor of the Exchequer whether he is yet in a position to state the terms upon which the issue of National Savings Certificates will be resumed?


As was announced in the Press on the 1st July, the new series of Savings Certificates will be issued at 16s., increasing in value to 23s. at the end of eleven years. The value at the end of the first year after purchase will be 16s. 4d.; during the second year interest will accrue at the rate of 1d., and after the second year at the rate of 2d., for each complete period of three months. A bonus of 4d. will be added at the end of the eleventh year.


Will the Financial Secretary bear in mind the importance to working-class investors of an early resumption of the issue of National Savings Certificates; and can he say how soon they will be issued once again?


I would not like to give a precise date, but we are fully conscious of the desirability of starting the issue of these certificates as soon as possible.