§ Mr. Hordernasked the Chancellor of the Exchequer if he will publish a table showing what the prizes on premium bonds should now be if they were
Number of prizes Current prize values June 1957 March 1977 Date prize values introduced Prizes revalued from date of introduction to March 1977 £ £100,000 … … … — 1 1.11.76 106,031 £50,000 … … … — 4 1.8.71 108,518 £25,000 … … … — 1 1.2.66 73,742 £5,000 … … … — 50 1.8.60 17,975 £1,000 … … … 96 602 1.6.57 3,748 £500 … … … 192 502 1,874 (£250*) … … … 384 — 937 £100 … … … 960 1,270 375 £50 … … … 1,920 50,200 187 £25 … … … 19,590 55,355 94 Total numbers … … 23,142 107,985 Total value … … … £969,750 £5,448,875 * The £250 prize value was withdrawn and reallocated in July 1974. The prize fund is calculated on a percentage of the value of bonds eligible to take partin the prize draw. This rate which was 4 per cent. per annum in 1957 has been increased to 5⅝ per cent. per annum by March 1977 and is free of United Kingdom income tax and capital gains tax. The prize value structure has been adjusted over the years by the addition of prizes over £1,000 in value and by an increase in the proportion of £1,000 and £50 prizes in relation to those of £25, but the latter have been retained because of popular demand.