§ Mr. Shersbyasked the Chancellor of the Exchequer if he is aware of the hardship being caused to many elderly people due to the substantial fall in value of 3½per cent. War Stock; if he will now set a date for the repayment of this stock; and if he will make a statement.
§ Mr. Denzil DaviesI regret that I can see no prospect of the Government's setting a date for the redemption of War Loan. We are very much aware of the circumstances of those elderly people who have held War Loan for a long time and now find its market value very much lower than what they or their relatives paid for it. But, like our predecessors, we have concluded that where the problem is hardship it is better to attack it288W directly, through the social services, than take discriminatory measures to meet market losses suffered by a particular group of holders.