HC Deb 24 April 1956 vol 551 cc1596-7
11. Mr. Hamilton

asked the Chancellor of the Exchequer whether, pending the repayment of post-war credits, he is prepared to provide a scheme of prizes in which holders of post-war credits can participate on the lines of the proposal for Premium Bonds.

15. Mr. Chetwynd

asked the Chancellor of the Exchequer whether he will convert all outstanding post-war credits into Premium Bonds.

Mr. H. Macmillan

The answer is "No, Sir."

Mr. Hamilton

Since these unfortunate people have been denied interest on their now more than ten years' old loan to the Government, will the Chancellor not consider extending his bookmaking activities so that these people may get at least a run for their money, which is losing value all the time that this Government are stumbling on in power?

Mr. Chetwynd

Why will the Chancellor not consider this suggestion? Will he not give some measure of belated justice to these people to give them the opportunity of sharing in this lottery, if he himself really believes in it? If our suggestion was adopted, would he not have a large sum available to begin with for distribution as prizes?

Mr. Macmillan

No, Sir. The two questions are quite different and are not related.

Mr. Jay

Why does the Chancellor weary of well doing? If he is so enthusiastic about gambling, why not press on with this ingenious suggestion?

Mr. Macmillan

The right hon. Gentleman has asked a question more for the sake of making his point than for asking me for an answer.

Mr. Usborne

Whether the Chancellor is enthusiastic about gambling or not, does he not realise that a great many people feel that post-war credits, which were taken from them for one purpose during the war, have subsequently been filched by the Government and not returned to them, and that a great many people consider that they should be treated much more fairly?

Mr. Macmillan

That is a quite different question, which both Governments have had to face, and has nothing to do with the question of Premium Bonds.

Mr. Hamilton

In view of the unsatisfactory nature of the reply, I give notice that I shall seek a winning ticket in the Adjournment lottery.