asked the Chancellor of the Exchequer if he will produce a scheme whereby payment of the first £500 invested in National Savings Certificates shall be based on the cost-of-living index so as to safeguard small investors against loss of real capital through depreciation of the pound sterling and to encourage the wage earners in their support of the National Savings Movement.

No, Sir.

Is it not a great scandal that the British Government should be satisfied to pay 16s. in the pound to men and women who have saved week by week to assist the National Savings Movement?

When there is a change in the value of money, it affects all the citizens.