67 and 68. Dr. Russell Thomasasked the Chancellor of the Exchequer, (1) in view of the fact that National Savings groups have increased but National Savings have decreased, what plan he proposes in regard to this matter in order to prevent the widening of the inflationary gap before April, 1942?
(2), in view of the fact that wages have increased but essential commodities have decreased, what further steps he proposes in regard to this matter in order to prevent the widening of the inflationary gap before April, 1942?
§ Sir K. WoodMy hon. Friend is mistaken in saying that national savings have decreased. They take many forms but all the evidence at my disposal indicates that they have substantially increased. The main object of the National Savings Groups is to facilitate the regular saving of small amounts and the continued increase in this type of saving is largely due to the Group system. In addition I can count on material assistance from the resiliences of the Revenue. The more general issue which these questions raise is receiving the careful consideration of the Government.
Dr. ThomasCould my right hon. Friend now consider adopting a sterner method of getting in the abundance of Treasury notes recently printed and circulated, and in regard to wages, may I ask him to bear in mind the thousands of people who still work long hours and get small wages, but have not the good fortune to be represented so vociferously by hon. Members on the other side of the House?