HC Deb 24 June 1947 vol 439 c205
51. Mr. Gammans

asked the Chancellor of the Exchequer to what cause, or causes, he attributes the recent continued drop in small savings.

Mr. Dalton

Partly to Whitsun, partly to the fact that it takes a little time to bring home to the public the new facilities for investment in Savings Certificates. The Chairman of the National Savings Committee published on 20th June a full statement on the recent figures. I am sending the hon. Member a copy.

Mr. Gammans

In view of the fact that in the last month there has been an actual disinvestment, which did not take place in Whitsun last year, will the right hon. Gentleman say whether this is due either to the fact that people have not so much money in their pockets or that they have lost faith in the security which is offered?

Mr. Dalton

I should say that it is certainly not due to the second cause and only doubtfully to the first. Perhaps the hon. Gentleman will read the copy which I am sending to him of a statement which has already been circulated in the Press.