§ 62. Sir Wavell Wakefieldasked the Chancellor of the Exchequer if he is aware of the method of raising State loans in the U.S.S.R., whereby, instead of issuing interest-bearing bonds, prizes are awarded to winning bondholders, which are not subject to Income Tax, whilst non-winning bondholders are able to redeem their bonds at par; and has he considered some similar plan for investors who may desire this type of investment in the United Kingdom.
§ Mr. DaltonYes, Sir, but I do not propose to issue similar loans in this country.
Mr. N. SmithIs the Chancellor of the Exchequer not aware that the issue of non-interest bearing prize-winning bonds would be extremely popular among the Labour Party's supporters?
§ Mr. DaltonWe are endeavouring to keep the savings movement free from 991 party controversy, or any other kind of controversy and, while I express no opinion, there are many people who, for reasons sincerely held, would very much object to this project.