§ 54. Mr. Leslie Boyceasked the Chancellor of the Exchequer whether, in view of the number of people of all classes who have now acquired National Savings Certificates to the nominal value of £500, and in order to encourage a continuation of this form of saving, he will now raise the limit of such investments to the nominal value of £750 or £1,000?
§ Sir J. AndersonStatistical inquiries have shown that the number of holders of the permitted maximum is a small proportion of the total number of holders of Certificates. But holders of the maximum of 500 units of the seventh and previous issues can continue to save in the form of Certificates by the purchase of up to 250 units of the Certificate of the £1 issue. My hon. Friend will appreciate that a limit must be fixed to holdings of a security which carries a favourable rate of interest free of tax. Given the alternative forms of investment available, I do not consider that the present limits hamper saving by the small investor.