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Savings Bank Funds (Investment)

Volume 463: debated on Tuesday 29 March 1949

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asked the Chancellor of the Exchequer whether he has any statement to make about the investment of Savings Bank Funds moneys.

Yes. £90 million of the balances in the savings Bank Funds held by the National Debt Commissioners have been invested with the Exchequer, on the security of a 3 per cent. terminable annuity with a currency of 30 years.