§ 54. Mr. McENTEEasked the Chancellor of the Exchequer if he will arrange that national savings certificates on reaching maturity shall automatically be transferred in the name of the holder to a Post Office savings bank account at 2½ per cent. interest.?
§ Sir V. WARRENDERNo, Sir. Savings certificates issued before the 1st April, 1922, which are not converted under any of the offers contained in the prospectus of the 29th December, 1931, may be retained by their holders until the 31st March, 1940, and will bear interest after the tenth year from the date of purchase at the rate of ld. per certificate for each completed month, a rate substantially more favourable to the holder than that allowed on a Post Office savings bank account.