HC Deb 28 February 1963 vol 672 cc197-8W
60. Sir C. Osborne

asked the Chancellor of the Exchequer why he is releasing hundreds of millions of pounds sterling of purchasing power into the economy, in view of the fact that personal savings have increased from £230 million to £2,300 million; if he will reduce interest rates still further in order to discourage savings; and if he will make a statement.

Mr. du Cann

The increase in personal savings over the last decade has provided very welcome scope for a higher rate of investment. It does not in any way constitute a reason why my right hon. Friend should not have taken the measures he did take to stimulate demand.