§ 43. Mr. W. Shepherdasked the Chancellor of the Exchequer what is the net position in respect of national savings to the nearest date for the new savings year, including adjustments in respect of release benefit accounts.
§ Sir S. CrippsAs the answer contains a number of figures, I will, with permission, circulate it in the OFFICIAL REPORT.
§ Mr. ShepherdAs the answer is probably long and may be disappointing can the Chancellor say what reason he adduces for the lamentable fall in national savings at the present time?
§ Sir S. CrippsI think it is part of the conditions in the country—the desire to spend more money than some people have available in their wages.
§ Following is the reply:
| NATIONAL SAVINGS. | ||
| APRIL 1ST-JUNE 12TH, 1948. | ||
| Excluding Services Release Benefits Accounts. | ||
| Receipts. | Repayments. | |
| £000 | £000 | |
| Savings Certificates | 24,800 | 26,800 |
| Defence Bonds | 8,940 | 9,160 (a) |
| Post Office Savings Bank. | 78,670 | 80,496 |
| Trustee Savings Banks. | 55,352 | 46,389 |
| 167,762 | 162,845 | |
| Net Savings | £4,917,000 |
| Including Services Release Benefits Accounts. | ||
| Receipts. | Repayments. | |
| £000 | £000 | |
| Savings Certificates | 24,800 | 26,800 |
| Defence Bonds | 8,940 | 9,160 (a) |
| Post Office Savings Bank. | 78,673 | 92,738 |
| Trustee Savings Banks. | 55,352 | 46,389 |
| 167,765 | 175,087 | |
| Net Dis-saving | £7,322,000 | |
| (a) Excluding £26,131,659 Defence Bonds repaid on maturity. |