§ Mr. Joplingasked the Chancellor of the Exchequer in which year the concession was granted to exempt from tax the first £15 of income from the Post Office Savings Bank; and what that figure would now be worth, taking into account the fall in the value of money since that date.
§ Mr. MacDermotThis concession was first announced in the Budget of 1956. On the basis of the movements in the consumer price index the purchasing power of £15 at the present time is approximately equivalent to that of £12 7s. 6d. in April, 1956.