§ 48. Sir Waldron Smithersasked the Chancellor of the Exchequer why the weekly figures of National Savings are being presented in a new form which will include interest on past savings; and if he will take steps to ensure that the weekly statement is published in both forms in future.
§ Sir S. CrippsThe new form does not include any information which was not 776 available in the old form. It merely rearranges the figures, and publication in both forms is therefore unnecessary.
§ Sir W. SmithersIs not the inclusion of accrued interest in the returns a device to make the savings returns better than they are, and is it not further evidence that the Government are beginning to realise that under their control the credit of this country is falling?
§ Sir S. CrippsNo, Sir.
§ Sir W. SmithersOf course it has fallen.
§ 58. Mr. Boyd-Carpenterasked the Chancellor of the Exchequer what inquiries he has made of the National Savings Movement as to the causes of the net deficit in National Savings; and what is the result of such inquiries.
§ Sir S. CrippsSpecial inquiries are unnecessary as I am kept informed of the trend of savings and the views of the National Savings Movement by the National Savings Committee. I have already stated that I do not regard last year's excess of withdrawals over new savings as unnatural in present circumstances; but I would emphasise again the need for the maximum new saving in the current year.
§ Mr. Boyd-CarpenterIs the right hon. and learned Gentleman prepared to inform the House of the views on this matter which he says the Savings Committee have given to him?
§ Sir S. CrippsThose views have been expressed by Lord Mackintosh on behalf of the Savings Committee and I do not think I need repeat them here.