HC Deb 10 March 1953 vol 512 c1114
31. Mr. Morley

asked the Chancellor of the Exchequer if he will consider taking steps to issue Government securities with guaranteed purchasing power, with the amount of interest and capital repayment based on the cost of living, in order to encourage saving.

Mr. Boyd-Carpenter

No, Sir.

Mr. Morley

Will not the Financial Secretary agree that the continuing fall in the value of money has made the interest on post office deposits a negative quantity, and cannot he frame some sort of security to attract more savings which would guarantee the integrity of the capital value?

Mr. Boyd-Carpenter

I think that the hon. Gentleman is a little out of date in the implication of his supplementary question. I would draw his attention to the fact that the cost-of-living index figure today is at the same level as it was last June.

Sir H. Williams

Would the Minister consult the right hon. Member for Bishop Auckland (Mr. Dalton) as to the kind of security to issue?

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