asked the Minister for Finance if he will consider raising the rate of interest paid by the Post Office and Trustee Savings Banks as an inducement to higher savings.
Ceisteanna—Questions. Oral Answers. - Interest Rates of Post Office and Trustee Savings Banks.
The reply is in the negative. As I stated, in reply to a somewhat similar question on the 30th October last, the present rate of interest has been in force through periods of both cheap and dear money and I consider that, in the long term, it is to the advantage of the Post Office and Trustee Savings Bank depositor to enjoy a rate of interest which remains unaffected by market variations in interest rates.