HC Deb 15 March 1934 vol 287 cc567-8

asked the Chancellor of the Exchequer if he will furnish an estimate of the aggregate savings of the inhabitants of the United Kingdom in national savings certificates, in all savings banks, building societies, approved societies under national health insurance, provident societies, the funds of industrial insurance companies, and all other similar registered forms of thrift in relation to which statistics are published by Government Departments?


As the answer contains a great number of figures I will, with my hon. Friend's permission, circulate it in the OFFICIAL REPORT.


Can the right hon. Gentleman state from memory the amount of profit which the Government made out of the people's money invested in the Post Office Savings Bank?


No, Sir.

Following is the answer:

The following are the main figures customarily given in calculations of the nature of that suggested in the question. There are sometimes added ordinary life assurance and an allowance for the equity value of the borrowers' interest in property financed by building societies, but these are not included in the figures below.

It should be noted that

  1. (a)it is not practicable to frame an estimate of the extent to which these aggregate savings are attributable to the small saver; the proportion probably varies in each case;
  2. (b) as far as possible duplication in the figures has been eliminated, but there still remains a certain amount which cannot be definitely ascertained;
  3. (c) in certain cases, not a very important part of the total, the figures given are believed to include sums which are in the nature of reserves;
  4. (d) the "latest available" figures are for the savings banks and savings certificates, those actually current, but for most of the other heads the latest published figures are those at the end of 1932.

1930. Latest available.
£m. £m.
National Savings Certificates* 489 480
Post Office Savings Bank* 290 331
Trustee Savings Banks* 133 172
Birmingham Municipal Bank 13 15
Post Office Register (nominal value) 228 224
Building Societies (Share Capital, Deposits, etc.) 365 464
Industrial and Provident Societies 167½ 182
Industrial Assurance 267 300
Societies registered under the Friendly Societies Acts 115 126
Accumulated Funds under the National Health Insurance Acts 126½ 127½
Registered Superannuation, etc., Trust Funds 38 41½
Trade Unions 12 11½
Railway Savings Banks 17 17½
2,261 2,492
* Including estimated accrued interest.
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