69. Major Vyvyan Adamsasked the Postmaster-General whether he will allow interest on deposits made with the Post Office Savings Bank on the first day of any specified month for the whole of that month, and so make the practice similar to that prevailing in the banks and building societies?
§ The Assistant Postmaster-General (Mr. Allan Chapman)The Post Office Savings Banks Act, 1861, provides that interest shall not commence until the first day of the calendar month next following the day of deposit. In present circumstances my right hon. Friend is not prepared to promote amending legislation in the sense suggested by my hon. and gallant Friend.
§ Mr. ChapmanI think the present record number of 14,000,000 depositors indicates that depositors generally arc satisfied with the present position.