§ Mr. David Howellasked the Chancellor of the Exchequer what cost benefit study he has made of the expenditure of £3.7 million of public money for the financial year 1968–69, the majority of which arises from selling and cashing national savings stamps; and what percentage this £3.7 million represents of the average amount of stamps held by the public during that year.
§ Mr. Taverne:A cost benefit study was undertaken as a result of which in 1967 a 2s. national savings stamp replaced the 6d. and 2s. 6d. denominations, and encashments of the new stamp were limited to amounts of £1 or more. A further study is now taking place. £3.7 million represents 11.3 per cent. of the mean balance of stamps estimated to be held by the public during the financial year 1968–69.