§ Mr. Tony BanksTo ask the Chancellor of the Exchequer what is the current premium bond prize-fund rate; and how many readjustments in the prize-fund rate have been made since 1963.
§ Mr. Nelson[holding answer 27 April 1993]: The current prize fund rate is 5 per cent. per annum. The rate when the scheme began in 1956 was 4 per cent. There have been 12 changes since then.
§ Mr. Tony BanksTo ask the Chancellor of the Exchequer what have been the total net receipts to the Treasury arising from the sale of premium bonds since their introduction; and how much is currently held in unclaimed prize money.
§ Mr. Nelson[holding answer 27 April 1993]: The balance outstanding at the end of March 1993 was £2.659 billion. The value of unclaimed prizes is £10.8 million.