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National Savings Bank Investment Account

Volume 981: debated on Monday 17 March 1980

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asked the Chancellor of the Exchequer (1) what is the cost of administering a separate fund under the Post Office Savings Bank Act 1966 for the National Savings Bank investment account;(2) what is the cost of administration of the separate fund administered by the National Debt Commissioners under the National Savings Bank Act 1971.

In the year ending 31 December 1979 the management expenses of the National Savings Bank investment account fund, met from the income of the fund, amounted to £53,200 in respect of the National Debt Office and £4,750,000 in respect of the National Savings Bank. These figures are provisional.