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Savings (Weekly Figures)

Volume 480: debated on Thursday 16 November 1950

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69.

asked the Chancellor of the Exchequer if he is aware that in the publication of the weekly savings figures, confusion is caused by including in the total stated to have been saved, the amount of interest earned on the sum already invested; and if he will return to the former method whereby the figure of money stated to have been saved is limited to the amount of new money actually put by.

No, Sir, I am not aware of any confusion and see no reason to alter the form in which the figures are presented.

As in some weeks the amount withdrawn exceeds the amount put in, by one or two millions, is it not rather a subterfuge to add the accrued interest and would it not be more satisfactory to say clearly how much is put in each week and how much is taken out?

No, Sir. The accrued interest is personal savings and ought to be included in the figure.