Lord INGLEWOODMy Lords, I beg leave to ask the Question which stands in my name on the Order Paper.
§ The Question was as follows:
§ To ask Her Majesty's Government whether the downturn in National Savings as shown on page 6 of the Annual Report of the Department of National Savings for 1973–74 has yet been reversed.
§ Lord JACQUESMy Lords, the brief answer is, yes, on either the wider definition (which includes the Trustee Savings Banks) or on the more narrow definition (which includes only the Department for National Savings). Receipts and accrued interest exceed repayments so far in 1974–75.
Lord INGLEWOODMy Lords, I thank the noble Lord for that Answer, both in its substance and in the fact that he really answered it with one word— like the Referendum.
Lord HAWKEMy Lords, are Her Majesty's Government aware that if they had shown more zeal in combating inflation, these National Savings would increase even faster?