§ 19. Mr. Doddsasked the Assistant Postmaster-General in what year it was first authorised that£3 could be with- 2742 drawn on demand from the Post Office Savings Bank; what that amount is worth on present-day values; and if he will give consideration to increasing the amount that can be withdrawn on demand.
§ The Assistant Postmaster-General (Mr. David Gammans)The limit of£3 was authorised in 1929. I am advised by my right hon. Friend the Chancellor of the Exchequer that its equivalent in purchasing power today is about£6 13s. We shall continue to review the limit from time to time. I would, however, remind the hon. Member that before the war books had to be surrendered after every demand withdrawal.