§ Sir C. Osborneasked the Chancellor of the Exchequer if he will take steps to tie the value of national savings to the cost of living index, with a view to preventing savers from being deprived, through inflation, of the real value of their savings, in view of the unusual depreciation in the value of money which has taken place since October 1964.
§ Mr. MacDermotI do not accept the hon. Member's reasoning, and I have no statement to make today about changes in national savings.
§ Sir C. Osborneasked the Chancellor of the Exchequer what preparations are made to meet the possible demand for immediate repayment of a major portion of the £8,000 million now invested in national savings and repayable on demand.
§ Mr. MacDermotHer Majesty's Government is always ready to stand by its obligations, but I do not accept the implication in the hon. Member's Question.