§ Sir R. Youngasked the Chancellor of the Exchequer what are the arrangements between the Treasury and the Postmaster-General regarding interest-free loans; and, to the latest possible date, what amount of such loans, respectively, comes from Post Office Savings Bank accounts, War Loan and National Savings Certificates?
§ Sir K. WoodInterest waived by depositors in the Post Office Savings Bank and by holders of securities on the Post Office Register is paid by the Post Office into the Exchequer. Interest surrendered on National Savings Certificates is deducted from the amount to which the holder is entitled at the date of encashment and the amount then claimed by the Post Office from the Exchequer is correspondingly reduced. I regret that the information for which my hon. Friend asks in the last part of his Question is not readily available and could not be obtained without a disproportionate expenditure of time and labour.