HC Deb 17 February 1970 vol 796 cc199-200
12 Mr. Biffen

asked the Chancellor of the Exchequer what is the total National Savings for the last available

Mr. William Rodgers

Total National Savings at the end of 1969 was approximately £8,443 million. This represents a decrease in 1969 of approximately £100 million compared with an increase of £78.8 million in 1968.

Mr. Biffen

Will the hon. Gentleman tell us over what previous period we have to look to find such a dramatic turn-round in the fortunes of National Savings? What does he think are the factors to which we should attribute the apparent unwillingness of the British public to lend its money to the British Government?

Mr. Rodgers

I cannot answer the first part of the hon. Gentleman's supplementary question without notice. But he will know that many factors affect the growth of National Savings. Nor are National Savings the only way that individuals save. In particular, sales of gilt-edged securities to the private sector and the flows of funds into building societies have been encouraging.

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