§ Mr. Malcolm BruceTo ask the Chancellor of the Exchequer what plans he has to reduce the minimum deposit sum for national savings investment accounts to encourage savings; and if he will make a statement. [29878]
§ Mrs. Angela Knight[holding answer 17 May 1996]: None. The minimum deposit was increased to £20 in February 1993. National savings has an important role in encouraging savings, and has a wide range of schemes to promote this, but its costs are borne by the taxpayer and large numbers of very low value transactions are administratively costly.