Mr. Mark Hughesasked the Chancellor of the Exchequer what capital sums are held in the several forms of national savings, with details of each form, at the latest available date.
§ Mr. LawsonProvisional balances, excluding accrued interest, at the end of September 1979 of savings administered by the department for national savings were as follows:
£m. National Savings Bank ordinary accounts 1,793.7 National Savings Bank investment accounts 1,337.1 National Savings certificates—excluding retirement issue 3,907.0 National Savings certificates retirement issue 930.1 Save-as-your-earn 1st and 2nd issues 34.1 Save-as-you-earn 3rd—Index Linked—issue 313.5 British savings bonds 671.1 Marketable securities—nominal value 391.8 Premium savings bonds 1,406.9 Gift tokens and national savings stamps 8.0 10,793.3
Mr. Mark Hughesasked the Chancellor of the Exchequer what the contribution gross net of repayments and net of administration expenses of the department for national savings has been in the last completed financial year.
§ Mr. LawsonNet receipts for the financial year 1978–79 were £1,152.2 million. Expenses of management for the year in administering total balances held by the department were £89 million.
§ Mr. Denzil Daviesasked the Chancellor of the Exchequer whether the Government intend to cut any of the services provided by the department of national savings.
§ Mr. LawsonThe present range of services provided by the department for358W national savings has been examined as part of a general review intended to achieve reductions in the size and cost of the Civil Service in future years. No decisions have been taken and an announcement will be made in due course.
§ Mr. Richard Shepherdasked the Chancellor of the Exchequer what has been the increase or decrease in national savings over the most recent three monthly period for which figures are available; and what were the comparable figures in the same period of the previous five years.
§ Mr. LawsonI shall let my hon. Friend have a reply as soon as possible.