§ Sir C. Osborneasked the Chancellor of the Exchequer why he continues to recommend the purchase of National Savings Certificates in view of the fact that their real value has fallen by more than 1s. 1d. in the pound since October, 1964, and that, on current trends, it will fall still further; and if he will make a statement.
§ Mr. MacDermotA high level of savings is vital to the health of the economy and thereby to the preservation of the purchasing power of money. This Government is determined to protect the value of savings, and I am confident that investors in National Savings Certificates will not be deterred by the hon. Gentleman's pessimism.