§ 58. Colonel Crosthwaite-Eyreasked the Chancellor of the Exchequer if he will give details of the measures adopted by His Majesty's Government to support the efforts made by the National Savings movement to increase savings.
§ Sir S. CrippsI would refer the hon. and gallant Member to the statement of the Government's financial and economic policy contained in my last Budget speech.
§ Colonel Crosthwaite-EyreSince the Chancellor made his last Budget speech there have been increased and ever-increasing withdrawals from National Savings. Is that not proof that his level of taxation is too high? What is he going to do to arrest this trend, because if savings decrease his whole Budget policy is finished?
§ Sir S. CrippsThat does not arise out of this Question, which asked what measures I had taken to support the efforts of the National Savings movement.
§ Mr. DraysonWill the Chancellor consider paying a more generous rate of interest on National Savings certificates?
§ Sir S. CrippsThat has been considered.
§ Mr. NicholsonDoes the right hon. and learned Gentleman appreciate that the greatest contribution he can make to the success of National Savings would be to ensure the stability of the purchasing power of the pound internally?
§ Sir S. CrippsThat has been done.