§ Sir J. HOODasked the Chancellor of the Exchequer what the sales of national savings certificates amounted to for the last five completed years, respectively; whether he is aware that the non-payment of interest for the first year is seriously retarding the sales by the local associations and is discouraging this form of thrift; whether there are any other securities issued by the Government which carry no interest for the first year after issue; and whether he will consult the National Savings Committee on the matter and consider the question so that interest will again be paid for the first year, as was the case on the original War savings certificates?
1803W
§ Mr. BALDWIN:The answer to the first part of the question is as follows:
Sales of savings certificates in the last five years produced the following amounts:
Certificates issued at 16s. from the 1st April, 1922, to the 28th February last have realised, aproximately, £34,500,000. The answer to the second and third parts of the question is in the negative. The terms on which certificates are issued are already exceedingly favorable and i do not propose to improve them.
Year, to 31st March, 1918 66,514,526 Year, to 31st March, 1919 97,921,218 Year, to 31st March, 1920 71,519,471 Year, to 31st March, 1921 41,195,948 Year, to 31st March, 1922 93,204,010