§ 50. Mr. Stokesasked the Chancellor of the Exchequer what steps he proposes to take to encourage the public to lend their savings free of interest to the Government; and what amount he proposes to allocate for expenditure in advertising for this purpose?
§ Sir K. WoodI would refer my hon. Friend to the reply which I gave to him on 24th February last.
§ Mr. StokesBut that reply was entirely unsatisfactory. Would not the right hon. Gentleman, in view of the fact that £45,000,000 has been subscribed interest-free and which would cost the 30 Government £1,000,000 at 2½ per cent., spend half that sum to encourage people to lend money free of interest? If so, it would still be a great deal less than he spends now.
§ Sir K. WoodI have already given the hon. Gentleman a full explanation.
§ Mr. ThorneWill my hon. Friend the member for Ipswich (Mr. Stokes) set a good example?
§ Mr. StokesCertainly.