HC Deb 20 August 1940 vol 364 cc1119-20
48. Mr. Touche

asked the Chancellor of the Exchequer whether, in view of the widespread popularity of National Savings Certificates, he will consider raising the maximum limit which an individual can hold?

Sir K. Wood

The interest earned on National Savings Certificates is exempt from Income Tax and Surtax, and, for that reason, I cannot contemplate raising the maximum amount which may be held by one person. I hope that those who cannot buy more Certificates will buy 3 per cent. Defence Bonds, which are also designed to meet the needs of the smaller investor.