HC Deb 13 April 1965 vol 710 c163W
Mr. Jopling

asked the Chancellor of the Exchequer in which year the concession was granted to exempt from tax the first £15 of income from the Post Office Savings Bank; and what that figure would now be worth, taking into account the fall in the value of money since that date.

Mr. MacDermot

This concession was first announced in the Budget of 1956. On the basis of the movements in the consumer price index the purchasing power of £15 at the present time is approximately equivalent to that of £12 7s. 6d. in April, 1956.