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Government Stock (Rhodesian Residents)

Volume 722: debated on Tuesday 14 December 1965

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asked the Chancellor of the Exchequer if he will estimate the annual value of interest payments to residents in Rhodesia in respect of Government stock held by them; and what warning is given, at the time of investment, to purchasers of Government stock that interest payments might in certain circumstances be withheld.

The answer to the first part of the hon. Member's Question is that no reliable estimate can be given. The answer to the second part is none, Sir.

Is it not still the fact that savers or investors cannot get their money? Is there any precedent for withholding interest from loyal citizens, according to the Government's own definition, who have invested in National Savings? Is not this a breach of faith, and was the Chairman of the National Savings movement consulted?

I had not realised that this Question was concerned with National Savings. I thought that it was concerned with Government stock, and it is that to which I addressed my Answer.