HC Deb 26 May 1989 vol 153 cc807-8W
Mr. Steel

To ask the Chancellor of the Exchequer, pursuant to his answer to the right hon. Member for Tweeddale, Ettrick and Lauderdale, 5 May,Official Report, column 255, what proportion of the actual numbers of all purchases of premium bonds are currently made under the value of £100.

Mr. Lawson

About 80 per cent.

Mr. Jack

To ask the Chancellor of the Exchequer when he last reviewed the value and number of the prizes awarded in the premium savings bond monthly draw; and whether there are plans to increase the number of values of the prizes during 1989.

Mr. Lilley

[holding answer 25 May 1989]: The prize structure and the underlying rate of interest which determines the prize fund for premium bonds are kept under continuous review. The number and value of prizes increase automatically in line with increases in the value of bonds eligible to participate in the prize draw. There are no present plans to alter the existing prize structure or the underlying interest rate.

Mr. Jack

To ask the Chancellor of the Exchequer what steps he is taking to increase the use of national savings gift tokens for the purchase of premium savings bonds.

Mr. Lilley

[holding answer 25 May 1989]: As previously announced, National Savings gift tokens will be withdrawn from sale on 30 June.

Mr. Jack

To ask the Chancellor of the Exchequer what is the current cost of translating a sale of premium savings bond worth £10, £50, £100 and £1,000, respectively.

Mr. Lilley

[holding answer 25 May 1989]: The transaction cost is nearly £2 irrespective of the value of the sale.

Mr. Jack

To ask the Chancellor of the Exchequer what was the value of premium savings bond sales to adults buying on behalf of children in 1986, 1987 and 1988.

Mr. Lilley

[holding answer 25 May 1989]: The estimated value of premium savings bond sales to adults buying on behalf of children (under the age 16) in the financial years 1986, 1987 and 1988 is as follows:

Financial year Value
£ million
1 April 1986 to 31 March 1987 3.5
1 April 1987 to 31 March 1988 4.6
1 April 1988 to 31 March 1989 8.4