ARE BRITONS SAVING AND SPENDING LESS?
(Special Correspondent.)
Eeceived F'riday, 9.30 p.111. LONDQN, Juue 20. Signs tliat, tlie people of Britain are spending less have been noted in the past few weeks. Now comcs a stuteiuent by Sir Harold Mackintosh, ci ..-i.rman of thc National Savings Committee, that Ihe people are saving less. He said there had been a drop of £49,000,000 in national savings over the first hen weeks of this finaneial vear
ending June 14 compared with the same period last yoar. However, he added, £21,000,000 per week of new savings had been acliieved and it was satisfactory to note that the total ainount of withdrawals from savings showed no increase on this time last vear, and there was no evidencc of any increased tendency to spend. The flnancial editor of the Manchester Guardian comments: " As the national income is probablv not mucJi smaller tlian it was at this timo last year it may well be that the ' will to save' has weakened. "One must not be too sure about it. • People may be saving more in thc form of cash. They are certainly saving far inore in the "form of insurance premiums. The great rise in the ainount of insurance polieies taken out last year offsets the fall in official ''savings" to a considerable extent.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/CHRONL19470621.2.7.3
Bibliographic details
Chronicle (Levin), 21 June 1947, Page 3
Word Count
218ARE BRITONS SAVING AND SPENDING LESS? Chronicle (Levin), 21 June 1947, Page 3
Using This Item
NZME is the copyright owner for the Chronicle (Levin). You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International licence (CC BY-NC-SA 4.0). This newspaper is not available for commercial use without the consent of NZME. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Log in