§ Captain Kerby
asked the Chancellor of the Exchequer, in view of the fact that the purchasing power of the £ over the past 10 years has decreased at an average annual rate exceeding the average rate of interest accrued on a holding of National Savings certificates purchased in 1946 and held since that date, if, against this background, he will make a statement on Government policy in relation to the future of the National Savings movement.
§ Mr. H. Macmillan
The terms of National Savings securities are fixed from time to time in such a way as to provide the small saver with an attractive investment, as compared with other investments currently available. A vigorous Savings movement is itself a most valuable protection against inflation. That is why I have recently proposed, as part of my first Budget, measures to make savings more attractive.