The interest rates paid on the Government's personal savings schemes are reviewed regularly by the National Treasury Management Agency. Following recent reductions in bank and building society deposit rates, and on the recommendation of the NTMA, I agreed to the withdrawal of the current 11th issue savings certificates with effect from close of business yesterday, Tuesday, 25 January and its replacement with a new issue of savings certificates, the 12th, which will be launched tomorrow. The 11th issue pays 40 per cent after five years; the new 12th issue will pay 40 per cent after five years and nine months. This is an effective reduction of 1 per cent per annum, from 7 per cent to 6 per cent.