National Savings Stamp

HC Deb 14 November 1974 vol 881 cc573-4

9. Dr. Edmund Marshall

asked the Chancellor of the Exchequer why the 10p national savings stamp has been withdrawn.

Mr. Dell

The supply of national savings stamps to post offices was interrupted by industrial action but should be resumed throughout the country by early December. As to the future of the national savings stamp, I would refer my hon. Friend to the answer I gave on 6th November to the hon. Member for Faversham (Mr. Moate).

Dr. Marshall

I acknowledge what my right hon. Friend says, but does he not agree that in the past the savings stamp has played a valuable part in encouraging the savings habit among schoolchildren? Is he satisfied that withdrawal of the stamp will do no harm in this respect?

Mr. Dell

Yes. I think that the sensible action now to take is to encourage schoolchildren to use banking schemes rather than the stamp. This is increasingly happening in schools as a result of the activities of the national savings movement, and this is a development which obviously should be encouraged. The two-year phasing-out period which the Government suggest should give full opportunity to allow that to happen.

Miss Fookes

Is the right hon. Gentleman aware that not only schoolchildren but the elderly feel very strongly that the stamp should be continued because it is of great use to them?

Mr. Dell

I know that there is a considerable amount of social work which centres on the stamp, but I believe that there are many other ways in which this work can be done. This is a matter which we propose to discuss with the national savings movement. I am sure that ways can be found for this social work to be kept going.