§ 53. Sir W. Darlingasked the Chancellor of the Exchequer if, with the aim of increasing national savings, he will consider allowing the first £1,000 of savings to be exempt from Income Tax and Surtax.
§ Sir S. CrippsNo, Sir. But I would remind the hon. Member that the interest on National Savings Certificates is not liable to tax and that up to £500 can be invested in the current issue in addition to holdings of previous issues.
§ Sir W. DarlingHas the right hon. and learned Gentleman any further ideas for making savings attractive, in view of the continued fall of savings in this country?
§ Sir S. CrippsNo. Sir.
§ Mr. OsborneIs not the Chancellor aware that the quickest way to make savings more attractive is to stop the rise in the cost of living, and thus safeguard the people's savings?