§ Mr. David SteelTo ask the Chancellor of the Exchequer if he will make a statement about the proposal to raise the lowest denomination of premium bond which can be purchased to £100.
§ Mr. LawsonThe increase is designed to secure administrative savings, following a regular review of the terms of all National Savings products. Sales of less than £100 represent only 12 per cent. of the total value of purchases but incur a disproportionate share of costs. The average purchase is now over £150. Parents, guardians or grandparents will still be able to make minimum purchases of £10 on behalf of children under 16.