HC Deb 06 March 1958 vol 583 c1316
11. Mr. John Hall

asked the Chancellor of the Exchequer if he will consider converting post-war credits into a new category of Premium Bonds at the same or lower rate of interest whilst retaining the present restriction on repayment and negotiability.

Mr. Simon

No, Sir.

Mr. Hall

Is my hon. and learned Friend aware that "hope deferred maketh The heart sick"? It might go a long way towards curing this condition if those creditors of the Government who hold post-war credits might look forward to an occasional prize.

Mr. Simon

The objection to that was stated by my right hon. Friend the Chancellor on 28th January. Premium Bond prizes are the equivalent of interest. If more money is available, the best way to use it is to accelerate repayment.