§ The Economic Secretary to the Treasury (Mr. Richard Ryder)
The proposal responds to representations from the British Bankers Association and a number of individual deposit takers. It has been widely welcomed.
§ Mr. Wood
Has my hon. Friend been encouraged by the general response to my right hon. Friend's savings initiative? Does he believe that the biggest disincentive to savings is the fear of many potential savers that some future Government might devalue their savings, as happened under the previous Labour Government, all too disastrously for them?