asked the Minister for Finance the net change in the amount of Post Office Savings Bank and savings certificates in the first four months of 1980 and in the first four months of 1979.
Ceisteanna—Questions. Oral Answers. - Post Office Savings.
17.
In the first four months of 1980 withdrawals from the Post Office Savings Bank exceeded deposits by £5.51 million as compared to an increase of £1.83 million in deposits over withdrawals in 1979.
Receipts from the issue of savings certificates exceeded repayments by £1.45 million in the first four months of 1980 as compared with £2.16 million in the corresponding period in 1979.
That is confidence.
Is the Minister concerned with the excess of withdrawals over lodgments in the saving funds referred to? Does he think that this indicates confidence in the Government's policy on the part of savers?
In the course of my budget speech I stated that the rate of interest may not be sufficiently attractive and proposals for a new issue of certificates offering a higher return were being prepared. That is the position.
What about the savers who already have their money in? They are not doing so well.
What does the Deputy expect? That is a retrospective situation which cannot be taken into consideration.
It is a situation which has obtained for some time under the Government.
And the previous Government.
Question No. 18 is for written reply.