§ Mr. MIDDLETONasked the Chancellor of the Exchequer how long it is proposed to continue the sale of national savings certificates at the present rate of interest; and whether, in view of the undertaking given by the Government of the: day, at the time war savings certificates were instituted, that the sale of national certificates would not be continued beyond the point necessary for raising money for War emergency, he will say whether he or his predecessor has received any representations from trustee savings banks urging the Government to implement such promise or undertaking?
§ Mr. BALDWIN:I am unable to say when the rate of interest on savings certificates will again be altered. So far as I am aware, no such undertaking as is alleged in the question was ever given by the Government; in any case the Treasury have repeatedly stated that it was their hope that the certificates would remain as a permanent part of the machinery of national finance. A representation has been received from a savings bank in the hon. Member's constituency, but, as appears from what I have said, I regard it as based on a misapprehension. I do not think any such views are held by trustee savings banks generally.