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National Savinggs (Encashments)

Volume 440: debated on Thursday 17 July 1947

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60.

asked the Chancellor of the Exchequer whether his attention has been called to the great increase during recent weeks in the cashing of saving certificates and withdrawals from savings bank deposits; and what remedial action he proposes to take to discourage this tendency.

Encashments are not abnormally high for this time of year, when many people are taking holidays. But my right hon. Friend would be glad to see an improvement in the savings figures, and he is sure that the Savings Movement will make every effort to achieve their target of £366 millions of net savings this year, and that they will be supported by all sections of the community.