HC Deb 18 May 1936 vol 312 cc834-5
62. Mr. H. G. WILLIAMS

asked the Chancellor of the Exchequer whether he can furnish an estimate of the savings of the people through the medium of the various facilities for such thrift; and what has been the increase since the end of 1931?

Mr. W. S. MORRISON

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

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.

The figures for the first five items are for 1935 (31st March in the case of the Birmingham Municipal Bank and 31st December in the other cases), and the remaining figures are for 1934, the latest at present available. 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 varies in each case.
  2. (b) as far as possible duplication has been eliminated, but there still remains a comparatively small amount which cannot be definitely ascertained.
  3. (c) in certain cases the figures include sums which are in the nature of reserves.
  4. (d) it is not possible to estimate the amount of Government Stock held by the small investor otherwise than on the Post Office and Trustee Savings Banks registers (if figures were available it is to be presumed that they would show a decrease after 1931 corresponding to the decrease on the Post Office and Trustee Savings Banks registers).

— 1931. Latest available.
£millions. £millions.
National Savings Certificates.* 502.4 505.1
Post Office Savings Bank.* 289.4 390.3
Trustee Savings Banks* 141.6 197.3
Birmingham Municipal Bank. 12.9 18.9
Post Office and Trustee Savings Bank Stock Registers (nominal value). 232.9 205.5
Building Societies (Share Capital Deposits, etc.). 412.2 548.8
Industrial and Provident Societies. 174.2 196.3
Industrial Assurance 280.2 343.2
Societies registered under the Friendly Societies Acts. 119.8 136.8
Accumulated Funds under the National Health Insurance Acts. 127.9 129.8
Registered Superannuation, etc., Trust Funds. 42.8 60.3
Trade Unions 11.5 13.2
Railway Savings Banks 17.2 20.6
Total 2,365.0 2,766.1
* Includes estimated accrued interest.