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Premium Bonds: Holding Limits

Volume 593: debated on Thursday 3 September 1998

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asked Her Majesty's Government:What is the current limit on an individual holding of Premium Bonds; on what date it was set; what the limit would be today if adjusted in line with inflation

The Secretary of State has asked me to reply to your questions, further to the Written Answer given by the Baroness Hayman on 19 November 1997, about which kit car and replica car manufacture received Single Vehicle Approval by 30 July 1998, giving the date of approval, and retest where appropriate; which manufacturers have not yet received approval, but have submitted for a re-test and on which dates; at which centres tests can be carried out; and what vehicles have been so tested by 30 July at each appointed Test Station.

Single Vehicle Approval Tests (SVA) may be carried out at 16 Goods Vehicle Testing Stations located in Aberdeen, Beverley, Bristol, Carlisle, Edinburgh, Exeter, Gillingham, Heywood, Leicester, Leighton Buzzard, Llantrisant, Newcastle, Norwich, Shrewsbury, Southampton and Yeading.

Data relating to the SVA tests of kit/replica vehicles carried out since VI's previous reply up to the end of June 1998 is contained in the attached tables. Information relating to the vehicles seen since 1 July is not yet available. You will notice a slight change in the way in which the data is presented from January. This is due to the introduction of a new computerised record system.

since it was set; whether they will adjust the limit for inflation, and, if not, why not. [HL3227]

The holding limit for Premium Bonds is £20,000. It was increased from £10,000 to £20,000 on 13 April 1993.Using the "all Items RPI", the limit adjusted for inflation would be £23,243.

There are no current plans to increase the holding limit. Limits on this and other National Savings products are kept under review and adjusted from time to time for reasons such as funding requirements, rather than solely on the grounds that the real value of a limit should be maintained.