asked the Chancellor of the Exchequer what are his plans for index-related savings; when he intends to introduce them; and if he will make a statement.

The Government are introducing shortly two modest, experimental indexed savings securities. The first, an indexed national savings certificate, will be on sale from 2nd June to people of national retirement pension age; the second, a new issue of SAYE, will be available from 1st July to savers aged 16 or over. The Government have no further plans for indexation although the position will be reviewed in the light of experience.