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National Savings

Volume 530: debated on Tuesday 20 July 1954

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asked the Chancellor of the Exchequer to what purposes the £6,013, million of National Savings are put.

Deposits in the Post Office Savings Bank and the ordinary departments of the Trustee Savings Banks are invested by the National Debt Commissioners in Government and Government guaranteed securities. Money raised by the issue of National Savings certificates, defence bonds and other securities on the Post Office Register is paid into the Exchequer and is available for any purposes for which by Act of Parliament borrowed moneys may be used.