HC Deb 11 December 1956 vol 562 c206
21. Sir N. Hulbert

asked the Chancellor of the Exchequer the number of Premium Bonds sold up to midnight, 1st December.

The Financial Secretary to the Treasury (Mr. Henry Brooke)

The number of £1 units sold up to the end of November was 46½ million.

Sir N. Hulbert

Is my right hon. Friend satisfied with this very excellent result?

Mr. Brooke

The Treasury is never satisfied, but we are very pleased.

Mr. H. Wilson

Has the right hon. Gentleman seen the comment in most financial journals that a considerable part of those purchases were made by taxpayers in the Surtax class because they provide a reasonable inducement to them that they will do better out of this tax-free prize than with ordinary lending? Will the right hon. Gentleman say to what extent the Treasury estimates that these sales are mere diversions from other forms of saving and not a net increase in savings?

Mr. Brooke

What gives me satisfaction is that these new Premium Bonds are proving popular with all classes of people and that the figure of savings remaining outstanding is higher at this moment than ever before.