HC Deb 10 November 1949 vol 469 cc1404-5
72. Mr. C. S. Taylor

asked the Chancellor of the Exchequer whether he will consider issuing a short-dated stock, on terms similar to those of the 3 per cent. Savings Bonds 1955–65 issue, to cover the payment of post-war credits.

Mr. Glenvil Hall

No, Sir.

Mr. Taylor

Will the right hon. Gentleman say why I get such a short reply? Has he really considered this suggestion and what are his reasons against it?

Mr. Glenvil Hall

It would be inflationary. That in itself would prevent my right hon. and learned Friend from adopting the suggestion.

Mr. Taylor

But surely it is the intention of the Government to settle these payments at some time or other? Why should not this stock be issued to enable these older people, who otherwise will never benefit from this payment, to get the benefit now?

Mr. Glenvil Hall

But older people do get them now. A woman of 60 and a man of 65 can now draw post-war credits.