§ 21. Mr. Viggersasked the Chancellor of the Exchequer what is the current 405W average rate of return on fixed interest national savings compared with the latest estimate of the current level of inflation.
§ Mr. Denzil DaviesIt is not possible to average the returns on different national savings instruments without a knowledge of the investor's tax position, since some instruments pay tax-free interest and some pay taxable interest.
§ Mr. Donald Stewartasked the Chancellor of the Exchequer what is the total amount in national savings attributable to savers in Scotland.
§ Mr. Denzil DaviesSeparate net national savings figures are not available for Scotland, but the provisional net savings for the whole of the United Kingdom in 1976–77, excluding accrued interest, was £694.3 million. Provisional figures for gross receipts in Scotland including deposits in the National Savings Bank and Trustee Savings Banks in the 12 months ended 31st March 1977 were £1,062 million compared with £8,159 million for the whole of the United Kingdom.