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National Savings

Volume 165: debated on Friday 19 January 1990

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To ask the Chancellor of the Exchequer what was the total number of new National Savings bank customers for the investment account for the last five annual periods for which figures are kept.

[holding answer 18 January 1990]: The number of new customers opening investment accounts is not available. The number of new investment accounts opened during each of the last five calendar years was as follows:

000's
1985544·8
1986519·9
1987697·3
1988605·3
1989515·9

To ask the Chancellor of the Exchequer what were the total number of new ordinary accounts opened, under the national savings scheme for each of the last five annual periods for which figures are kept.

[holding answer 18 January 1990]: The number of new national savings ordinary accounts opened in each of the last five calendar years is as follows:

000's

1985528·2
1986506·0
1987502·6
1988471·1
1989343·3

To ask the Chancellor of the Exchequer whether he has any additional plans to further increase the minimum deposit level for National Savings bank ordinary accounts.

[holding answer 18 January 1990]: My right hon. Friend has no present plans to increase the minimum deposit for national savings ordinary accounts.

To ask the Chancellor of the Exchequer whether he has any plans to cause the Department for National Savings to issue any further guidelines to retirement pensioners on savings and personal security, either on its own or in conjuction with police authorities.

[holding answer 18 January 1990]: For some years the Department for National Savings has responded to requests to assist local crime prevention campaigns by providing specially prepared leaflets which remind pensioners that their money is safer kept in a savings account than at home. I understand that the department will continue to offer such assistance where it is practicable to do so.

To ask the Chancellor of the Exchequer whether he has received any representations about the future of the Department for National Savings; and if he will make a statement.

[holding answer 18 January 1990]: My right hon. Friend has received a number of representations. Our objectives for national savings are to encourage more long-term committed savings and less liquid debt; to make available through the national savings system products gross of tax for the non-taxpayer; and to continue to manage efficiently the investments of many millions of personal savers.

To ask the Chancellor of the Exchequer whether the Treasury intends to review its policy on the Department for National Savings.

[holding answer 18 January 1990]: Policy on national savings products and their terms is always kept under review.