§ 53. Sir W. Darling
asked 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. Cripps
No, 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. Darling
Has the right hon. and learned Gentleman any further ideas for making savings attractive, in view of the continued fall of savings in this country?
§ Mr. Osborne
Is 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?