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Save-As-You-Earn National Savings Contracts

Volume 32: debated on Friday 19 November 1982

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asked the Chancellor of the Exchequer whether he intends to top up the index-linked return on third issue save-as-you-earn national savings contracts, following the action taken on index-linked national savings certificates.

Yes. Savers with existing contracts or making new contracts under the third issue SAYE scheme will be able to qualify for a supplement to index-linking comparable to that already announced for index-linked national savings certificates. Legislation will be included in next year's Finance Bill to authorise supplements for contracts which have not completed the initial seven year term: the existing prospectus permits such supplements to be made on contracts extended after seven years.Savers will be eligible for an additional tax-free benefit for the next 12 months at least. Savers can qualify for the

In a statement to the house on 19 February 1982 about the affairs of the De Lorean motor companies, my right hon. Friend referred to an investigation of the company's affairs made by Coopers and Lybrand. The receivership, which was announced that day, is being undertaken by Sir Kenneth Cork and Mr. Paul Shewell, partners in Cork Gully, a member firm of Coopers and Lybrand. During the receivership inquiries have continued into a number of matters, relating to the conduct of the De Lorean business, brought to light in the Coopers and Lybrand report. On the basis of information which has come to hand in the course of these further inquiries, papers relating to a number of such matters have now been referred to the Chief Constable of the RUC for his consideration.