§ 60. Mr. Osborneasked the Chancellor of the Exchequer, in order to attract more small savings, if he will increase the rate of interest paid on National Savings Certificates and deposits in the Post Office Savings Bank and the Trustee Savings Bank.
§ Mr. GaitskellThe interest paid on any particular issue of National Savings Certificates is fixed at the time of introduction of that issue and cannot be altered subsequently. I see no reason to alter the rate of interest paid on deposits in the Post Office Savings Bank and the Trustee Savings Bank; it is already very generous having regard to the facilities for withdrawal offered to investors.
§ Mr. OsborneIn view of the great falling off in small savings, does not the Chancellor think that an extra bit of interest would help him to get more savings?
§ Mr. GaitskellPerhaps the hon. Member will await a reply which I am to give to a further Question on this subject.