NATIONAL SAVINGS BEHIND TARGET
Received Sunday, 7 p.m. LONDON, Sept, 27. Sir Harold Mackintosh, chairman of the National Savings Committee, admitted today for the first time that the savings moveiment in Britain is "badly hehind the national target, says the Pinancial Times. The cur rent year's savings are running £100,000,000 behind the target. Sir Harold stated that gross savings between April 1 and Septemher 14 were £453,000,000 but withdrawals totalled £366,000,000. Sir Harold attributed the high total of withdrawals to the high cost of holidays, the rise in the cost of living and a fear on inflation, but added that he helieved the main reason for the fall in contributions and increased encashments, was the intrusion of political considerations. The results of the tendency for the savings movement to hecome involved in political strife might well he disastrous.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/CHRONL19470929.2.24
Bibliographic details
Chronicle (Levin), 29 September 1947, Page 5
Word Count
138NATIONAL SAVINGS BEHIND TARGET Chronicle (Levin), 29 September 1947, Page 5
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