HC Deb 18 January 1944 vol 396 cc36-7
67. Mr. Graham White

asked the Chancellor of the Exchequer whether he will state, as on the last convenient date, the amount of tax-free loan received since the outbreak of war.

Sir J. Anderson

With my hon. Friend's permission I will circulate the figures in the OFFICIAL REPORT.

Mr. White

In anticipation of the figures asked for, will the right hon. Gentleman see that this very helpful form of investment is adequately advertised in connection with the forthcoming savings campaign?

Sir J. Anderson

I will bear the point in mind.

Sir Irving Albery

In what way is a tax free loan a helpful form of investment?

Sir J. Anderson

Because it is free of tax.

Following is the answer:

The Government securities on which interest is paid free of tax are National Savings Certificates and Tax Reserve Certificates. National Savings Certificates have been on issue since the outbreak of war; Tax Reserve Certificates since 23rd December, 1941.

The amounts received to 31st December, 1943, are as follows:

£000
TRC. NSC.
Subscribed 1,026,600 997,850
Repaid (exclusive of interest) 380,112 141,550
Net Increase 646,488 856,300