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Savings Campaign

Volume 440: debated on Wednesday 16 July 1947

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asked the Chancellor of the Exchequer (1) if, in view of the adverse weekly balance of withdrawals, against savings, he will consider a weekly bonus ballot scheme to encourage this form of thrift;

(2) if he has any plans to deal with the excess of withdrawals against savings; and if he will consider increasing inducements for thrift or, alternatively, some form of bonus or prize to stimulate the occasional saver.

Schemes for savings bonuses and prizes have often been suggested, but I agree with the decisions of my predecessors, taken over a number of years, that any additional money so raised would not be worth the controversy and diversion of effort which would result. We all wish to see more savings and I rely on the National Savings Movement, in view of recent disappointing figures, to bestir themselves and to intensify their campaign.