DECLARATION BY THE GENERAL COUNCIL OF THE TRADES UNION CONGRESS
"The General Council of the Trades Union Congress have given their most careful consideration to the problem of how to provide the means of carrying on the War with the least hardship to the population as a whole and, in particular, to workpeople.
"As a result, the General Council were anxious to give their full and strong support to voluntary savings, but considered it necessary to seek assurances:—
(a) From the Government that the voluntary war savings of workpeople up to a specified amount would be disregarded in the application of any Means Test to which they might, in the future, become subject.
(b) From Employers that they would undertake not to use evidence of the ability of workpeople to save as an argument against applications for wage advances.
"Both these assurances have now been given. For the Government, Sir John Simon announced in his Budget statement that new savings during the war up to £375, invested in National Savings Certificates, Defence Bonds, subscriptions to new War Loans, or deposited in the Post Office Savings Bank or the Trustee Savings Banks would be disregarded in computing the means of applicants for unemployment assistance or supplementary old age pensions.
The Employers have also given a definite assurance that the war savings of workpeople will not be used against the Trade Unions in subsequent negotiations for wage increases.
"The Trades Union Congress, recognising the magnitude of the war's financial and economic problems, urge upon all who are able to save to do so to the utmost of their ability and to lend such savings to the country.
"These savings will help materially to maintain supplies essential for the adequate equipment of the fighting and defence services.
"Savings, in so far as they help to restrict expenditure upon non-essential commodities, will also assist to maintain the supply and prevent increases in the price of commodities essential to the people's standard of life."
W.F.L.17. Issued bv the National Savings Committee, London, and the Scottish Savings Committee, Edinburgh.