HC Deb 16 May 1957 vol 570 cc554-5
19. Mr. Hamilton

asked the Chancellor of the Exchequer what would be the current value of £100 which was invested in Premium Bonds at the outset of that scheme.

Mr. Powell

The Bonds could be cashed for £100, but, if not so cashed, they would have the additional value to the holder of being eligible in a month's time for inclusion in the 1st June and subsequent monthly prize draws.

Mr. Hamilton

But why does the hon. Gentleman so naïvely evade the question? Does he recall that the present Prime Minister, when he introduced the scheme, said that it was not a gamble because nobody could lose? Will he now take steps to disabuse the public of that no doubt unwitting deception?

Mr. Powell

So far as I can see, my right hon. Friend's statement was perfectly correct.