Mr. Leslie Haleasked the Chancellor of the Exchequer what are the present limitations on the amount of War Savings Certificates to be held by any one person; and what are the reasons for these limitations.
§ Mr. GaitskellIn addition to holdings of earlier issues any one person may hold up to 1,000 10s. units of the current issue of National Savings Certificates. National Savings Certificates which were always intended to encourage small savings are a very favourable investment, in view of the fact that the interest on them is not subject to tax; to protect the revenue there must clearly be some limit upon individual holdings.