§ Q1. Mr. Stratton Millsasked the Prime Minister whether the public speech of the Chancellor of the Exchequer at the National Savings Jubilee Ceremony at the Guildhall on 19th May on the subject of national savings represents the policy of Her Majesty's Government.
§ The Prime Minister (Mr. Harold Wilson)Yes, Sir.
§ Mr. MillsIs it not clear that the prolonged period of inflation has caused savers gradually to move away from the traditional method of National Saving and that this trend cannot be met purely by leapfrogging interest rates? Would he say what consideration the Government have given to new methods and techniques of National Savings?
§ The Prime MinisterI am aware of the great interest which the hon. Gentleman takes in the whole question of the National Savings Movement. He will be aware that personal savings last year equalled the figures for the previous year. Although there was some falling off in the National Savings element in the first quarter of this year, there has been a very satisfactory pick-up since the introduction of the new certificate at the end of March.