§ Major Petoasked the Chancellor of the Exchequer whether, in view of the fact that so many people, more especially women and the smaller investors, prefer National Savings Certificates to any other form of savings, he will reconsider his previous decision and will now investigate the possibility of allowing individuals to increase their maximum holding of Savings Certificates from 500 to 1,000 certificates, provided the second 500 certificates are liable to Income Tax?
§ Mr. Hannahasked the Chancellor of the Exchequer whether he will consider some further issue of National Savings Certificates at a lower rate of interest for those who have already taken up their quota in order to bring into the war effort funds lying idle at present?
§ Major Lyonsasked the Chancellor of the Exchequer whether he can make any further statement on the question of extending the limit of individual holdings in War Savings Certificates and Defence Bonds, and the aggregate annual deposit in Post Office savings?
§ Sir K. WoodI have carefully considered these matters. I do not at present see sufficient ground, in view of the alternative methods of investment available, for increasing the maximum holding of Defence Bonds or the maximum annual deposit in the Savings Banks. The sug-248W gestion for extending the limit for National Savings Certificates or for the issue of a special new series of those certificates has been the subject of a good deal of consideration. Savings Certificates were designed to be, and no doubt are, specially attractive, but on the evidence before me I do not think that the existing limit is hampering savings by the small investor.
§ Sir A. Maitlandasked the Chancellor of the Exchequer whether he is prepared to increase the maximum number of War Savings Certificates and the maximum amount of Defence Bonds which can be held by any one person?
§ Sir K. WoodI would refer my hon. Friend to the answer which I have given to my hon. and gallant Friend the Member for King's Norton (Major Peto).