§ 2. Mr. Emrys Hughesasked the Chancellor of the Exchequer his estimate of the withdrawals of small depositors during the period of the Coronation; and what his explanation is of these reductions in small savings.
§ The Financial Secretary to the Treasury (Mr. John Boyd-Carpenter)I would refer the hon. Member to the weekly figures published by the National Savings Committee. Small savings always fall off at the beginning of the holiday season; the Coronation will have accentuated this seasonal trend.
§ Mr. HughesCannot the Minister give us some figures without referring us to these statistics? In view of the anxiety and the sleepless nights which the then Opposition used to have in the time of the Labour Government about the decline in small investments, what is he doing to prevent this decline?
§ Mr. Boyd-CarpenterThe last part of that question raises much wider issues. As to the first part, the National Savings Committee goes out of its way to publish these figures weekly, and they are very easily accessible.
§ Mr. GaitskellIn view of the desirability of encouraging my hon. Friend to take further interest in small savings, could not the hon. Gentleman give the figures for last year, showing how much small savings declined?
§ Mr. Boyd-CarpenterI have not the figures for last year, which are not immediately available, but the right hon. Gentleman will be reassured to know that the figures for the first 10 weeks of the present financial year are better than those for the corresponding period of the previous year.