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Written question asked by David Mitchell (Conservative), in the House of Commons. It was due for an answer on Wednesday, 19 March 1997. It was answered by John Wheeler (Conservative) on Wednesday, 19 March 1997 on behalf of the Northern Ireland Office.


Northern Ireland Office

Question
If he will comment on the future of Ulster Savings.
Answer

Sir David Mitchell: To ask the Secretary of State for Northern Ireland if he will make a statement on the future of Ulster Savings. [21393] Sir John Wheeler: All new investments in Ulster Savings ceased with effect from 1 June 1991, although arrangements for reinvestment were retained. Having given careful consideration to the findings of a further policy review, I have decided that the facility to reinvest in Ulster Savings should be withdrawn. However, It has been agreed that the proceeds of matured Ulster savings certificates may be reinvested instead in National Savings with effect from 1 April 1997.


Secondary information

Type
Written question
Reference
21393; 292 c649-50W
Session
1996-97
Subjects
Investment Personal savings Northern Ireland Ulster savings certificates Ulster Savings