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National Savings Campaign

Volume 414: debated on Tuesday 16 October 1945

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asked the Chancellor of the Exchequer whether, in view of the fact that deficiencies in public subscriptions to savings campaigns necessitate the creation of additional bank credits, he will publish full details of the Thanksgiving Weeks subscriptions, making clear how much of the total was real savings in respect of which the lenders parted with their money; and how much was due to the creation of additional bank credit, in respect of which the lenders parted with nothing.

The total invested in each Thanksgiving Week is published at the end of the week. Later, when the results have been analysed, figures are published to show separately the amounts of the investment in each description of security. Subscriptions for all securities now on issue for the investment of national savings must be fully paid in cash. This rule has operated throughout the war savings campaigns. It is not possible to compile a return on the lines suggested by my hon. Friend.