§ Mr. Colvin
asked the Chancellor of the Exchequer if he will confirm that when the revised prize structure of premium bonds is announced later this year the £25 and £50 prizes will not be discontinued.
§ Mr. Lawson
No decision has yet been taken about the prize structure to apply from 1 January 1980 but an announcement will be made before the end of September. It should however be remembered that when the then Chancellor, Mr. Harold Macmillan, introduced premium savings bonds in 1956 the minimum prize was £25; and that £25 in those days was worth more than £100 today.