§ Sir Geoffrey FinsbergTo ask the Chancellor of the Exchequer (1) what public consultations were carried out by the director of savings prior to his decision to increase the minimum purchase of premium bonds from £10 to £100 and to abolish premium bond gift tokens;
(2) what consultations he carried out regarding (a) the increase in the minimum purchase of premium bonds from £10 to £100 and (b) the abolition of the premium bond gift tokens.
§ Mr. Lilley[holding answer 28 April 1989]: These decisions were taken by Treasury Ministers in the usual way. They keep the terms of all National Savings products under constant review, and make changes whenever they consider them necessary. Minimum purchases of £10 may still be made by parents, grandparents and guardians on behalf of children under 16.
§ Sir Geoffrey FinsbergTo ask the Chancellor of the Exchequer if he will instruct the director of savings to defer to 1 January 1990 the increase in the minimum purchase of premium bonds from £10 to £100 and the abolition of premium bond gift tokens.
§ Mr. Lilley[holding answer 28 April 1989]: No.