Tax Reserve Certificates (Interest)

HC Deb 20 May 1958 vol 588 c1080

10. Mr. Nabarro

asked the Chancellor of the Exchequer the present rate of interest on tax reserve certificates; at what date such rate first became operative; and what changes he now proposes in the rate.

Mr. Amory

The rate, which is at present 3¼ per cent., was last changed on 29th March. I cannot forecast any future changes.

Mr. Nabarro

Would the Chancellor go as far as to say that the rate of interest for tax reserve certificates will move up or down in accord with interest rates generally?

Mr. Amory

I am afraid I could not go quite as far as to say even that. In fact, I can go so little distance forward to meet my hon. Friend in this matter that I cannot move at all.