Early day motion tabled by primary sponsor Lord Carlile of Berriew (Liberal Democrat), on Wednesday, 25 November 1992, in the House of Commons. It is signed by 27 members in total.

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NATIONAL SAVINGS

That this House notes with alarm the proposed increases to minimum deposits and purchases in National Savings; notes further that this entails raising the minimum for each deposit into an investment account, including the amount required to open an account, from ??5 to ??20, and into an ordinary account from ??5 to ??10; deplores the fact that the minimum purchase of premium bonds by parents, guardians, or grandparents for children under 16 years of age will rise ten-fold from ??10 to ??100; believes that such increases in the midst of the worst recession since the 1930s are unnecessary, unwarranted, and insulting; further believes that these increases will penalise parents wishing to begin a nest-egg for their children, pensioners, and those especially in rural communities; regrets that this is a further sign that Her Majesty's Government is hopelessly out of touch with the economic plight of the population; and calls upon the Chancellor of the Exchequer and the Government to abandon any plans to implement these atrocious and unnecessary increases which can only devastate people already suffering from the ongoing recession.

Amendments

The Early day motion has received an amendment.

NATIONAL SAVINGS (944A1)

The Early day motion has received an amendment sponsored by Baroness Quin (primary, Labour) and tabled on Thursday, 26 November 1992. It has been signed by 5 members in total.

after 'communities', insert 'points out that there has been a steep decline in premium bond purchases since the Government's absurd decision of January 1989 to increase the minimum purchase of bonds by adults to ??100, well beyond the scope of many would be purchasers.'.

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Secondary information

Type

Early day motion

Reference

944 

944A1 

Session

1992-93

Other sponsors

Baroness Michie of Gallanach

Lord Campbell of Pittenweem

Lord Beith

Lord Kirkwood of Kirkhope

Lord Tyler

Subjects

National savings Premium bonds

Link

View this Early day motion on www.parliament.uk