HC Deb 06 March 1996 vol 273 c235W
Mr. Matthew Banks

To ask the Chancellor of the Exchequer what are his plans for the Department for National Savings. [19740]

Mrs. Angela Knight

My right hon. and learned Friend the Chancellor of the Exchequer has decided that the Department for National Savings should be launched as an executive agency of the Chancellor of the Exchequer on 1 July 1996.

As a next steps executive agency, National Savings will continue to provide a source of funds for Government and a safe home for savings. The agency will have more freedom to manage its affairs and clearer responsibilities within a framework of objectives, annual performance targets and resources agreed with Ministers. It will be set clear targets to continue to improve value for money for the taxpayer and the level of service to customers.

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