HC Deb 06 August 1940 vol 364 cc25-6
59. Mr. R. J. Taylor

asked the Chancellor of the Exchequer when it is proposed to give effect to the undertaking that war savings shall be disregarded in the administration of the household means test; and whether the necessary legislation will be retrospective?

Sir K. Wood

The legislation necessary to give effect to the undertaking is in active preparation and will be introduced as soon as possible. Savings made between 3rd September last and the date of operation of the Act will, of course, be taken into account in dealing with subsequent claims. In other respects I am afraid that it will be impracticable to make the legislation retrospective.

Mr. Taylor

Will the Chancellor of the Exchequer make it clear whether investments made after 3rd September will be differentiated as against those investments made before that date?

Sir K. Wood

I will have regard to that in considering the terms of the Bill.

Mr. Lawson

Has the Chancellor of the Exchequer taken steps to make this known to all old age pensioners, because there is a very great deal of disturbance in regard to this matter?

Mr. A. Bevan

Does the Chancellor realise that if a distinction is made between the old War Loan and the new, there will be a tendency to convert from the old War Loan to the new? Will he bear that in mind?

Sir K. Wood

Yes, Sir, I will have regard to that.

Mr. Taylor

Will the right hon. Gentleman also bear in mind that when this pledge was given to the old people they immediately began investing in War Loan, and that if the Bill is not made retrospective to cover these amounts, the old people will look upon it as a breach of faith?

Sir K. Wood

Certainly there will be no breach of any undertaking. I hope the Bill will be available in a few days.

Mr. George Griffiths

Is the Chancellor aware that the old people are refused the supplementary allowance because they have these War Loan savings, and they are not getting supplementary allowances to-day?

Sir K. Wood

That is another matter.

Mr. Gallacher

Has not the Chancellor made it clear that it is new savings which are being dealt with?