Hope deferred
Sir: Skinflint, in his column of December 30, expressed gladness that the first Premium Bond prize is to be increased to £75,000.
At the risk of shattering Skinflnt's roseate expectation I would point out that this is not true.
There have been some press reports on a recent resolution at a regional National Savings Conference which proposed that the top prize be increased from E50,000 to £100,000. However, before any such suggestion from the Savings Movement can be submitted to the Chancellor of the Exchequer for consideration it must be approved by the National Savings Committee. As with all matters concerning National Savings the final decision would rest with the Chancellor.
Skinflint is, therefore, wrong in his assumption that the top prize is to be increased. At this stage it is no more than a recommendation. In fact, a similar resolution at the Savings Movements recent London conference was rejected.
Robert Davy Chief Public Relations Officer, Department for National Savings, Blythe Road, London W4
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