§ 2.43 p.m.
Viscount MERSEYMy 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 what steps are being taken to mark the 60th anniversary of the Savings Movement.
§ Lord JACQUESMy Lords, the National Savings Movement intends to mark its 60th anniversary in a practical way by increasing its efforts to improve public understanding of the value of saving in National Savings. Given the need for restraint in public expenditure, there will be only local pageantry.
Viscount MERSEYMy Lords, I am grateful for that reply. In view of the immense amount of work that is put into this movement by voluntary leaders in 1270 all the counties and towns, might it not be appropriate at least to send them some appreciation of their work? May I remind the noble Lord that during the last two months savings have been at an almost record level?
§ Lord JACQUESMy Lords, I shall be very pleased to communicate that suggestion to my right honourable friend.
§ Lord RHYLMy Lords, would it not be an act of grace to express some sympathy to those who over the years have put their money into National Savings, in view of the enormous decrease in the purchasing power of their money which has taken place during the period?
§ Lord JACQUESMy Lords, if we had to express that kind of sympathy, we should have to express it to many others who have invested in other securities.