§ Mr. Geoffrey Finsbergasked the Chancellor of the Exchequer if he will give (a) a detailed breakdown into overheads and other costs of the estimated management expenses of £8.97 million attributed to the national savings stamp on page 16 of the Annual Report of the 133W Department for National Savings for 1973–74, (b) an estimate of the net saving achieved by abolishing the stamp, and (c) an estimate of the management expenses of the proposed television stamp.
§ Mr. DellThe information is as follows: (a) The figure of £8.97 million
£ £ Post Office costs for NSS transactions: Sub-Postmasters remuneration … … … … 2,755,000 Crown Office salaries … … … … 3,617,000 Overheads … … … … 861,000 Accommodation … … … … 947,000 Miscellaneous … … … … 259,000 Profit Margin … … … … 172,000 8,611,000 Printing of stamps, stamp books and cards … … … … 246,000 The above costs do not include the overhead administrative costs in the Department for National savings and the national savings committees. (b) The Post Office will continue to accept the surrender of national savings stamps for encashment or reinvestment after they have been withdrawn from sale. Subject to the renegotiation of charges under the Post Office contract, on the basis of 1974 cost levels the total saving in direct operating costs in the period up to 1980 is estimated at about £30 million. (c) I am unable at this stage to estimate the management expenses of the proposed alternative scheme for saving towards the cost of television licences.