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WEDNESDAY, JANUARY 9, 1991
'PREMIUM BOND' HAS NOTHING TO DO WITH AIRPORT PROJECT
THE IDEA OF THE "PREMIUM BOND" HAS NOTHING TO DO AIRPORT PROJECT, THE SECRETARY FOR THE TREASURY, MR HAMISH SAID TODAY (WEDNESDAY).
WITH THE
MACLEOD,
HONG KONG OUT THAT
SPEAKING TO REPORTERS AFTER THE OPENING OF THE INTERNATIONAL TOYS AND GAMES FAIR 1991, MR MACLEOD POINTED THE PURPOSE OF THE IDEA WAS SIMPLY TO PUT IT OUT FOR A PUBLIC
DISCUSSION.
FURTHER.
"IF WE GET A FAVOURABLE RESPONSE, THEN, WE WILL LOOK AT IT
IF WE DO NOT, WE PROBABLY WILL FORGET IT.
"WE ARE VERY MUCH AT A PRELIMINARY STAGE, JUST AFLOATING IDEA AND SEEING WHETHER THERE IS ENOUGH ENTHUSIASM FOR IT TO CARRY FORWARD," HE SAID.
THE IT
MR MACLEOD STRESSED THAT THE "PREMIUM BOND" IDEA WAS NOT IN THE IMMEDIATE PROPOSAL.
"I THINK UNLESS THERE WAS ENTHUSIASM, WE PROBABLY WOULD FORGET IT." HE ADDED.
"PREMIUM BUY THE
WHEN ASKED TO COMMENT ON THE ATTRACTIVENESS OF THE BOND", MR MACLEOD SAID: "THE ATTRACTION IS SIMPLY THAT YOU BONDS AND YOU CAN THEN FORGET ABOUT THEM ACTUALLY AND IF YOU WIN, THEN,
YOU GOT A PRIZE.
"IF AFTER A WHILE, YOU WANT YOUR MONEY BACK, YOU JUST GO AND CASH IT IN AGAIN. SO YOU DO NOT LOSE YOUR MONEY AT ALL.
"WHAT YOU ARE IN EFFECT DOING IS THAT YOU ARE TRADING IN THE INTEREST THAT YOU WOULD HAVE GOT IT IN THE BANK IN EXCHANGE FOR THE CHANCE OF A LARGE PRIZE.
"AND FOR A FAIRLY SMALL AMOUNT OF
MONEY OF COURSE THE INTEREST IS NOT WORTH VERY MUCH ANY WAY SO IT IS QUITE EXCITING HAVE A CHANCE OF WINNING A NICE LARGE PRICE.
ΤΟ
"THAT IS BASICALLY, FROM ANY GOVERNMENT'S POINT OF VIEW, IS A FAIRLY CHEAP WAY OF GETTING MONEY,
TENDS то
IT
BE
"IT IS ALSO VOLUNTARY, UNLIKE TAX WHICH INVOLUNTARY. THAT THE PREMIUM BONDS IS VOLUNTARY 80 IT HAS SOME ATTRACTIONS."
IN REPLY TO WHY THE IDEA WAS PUT FORWARD AT THIS MACLEOD SAID: "IT IS A TIME OF YEAR WHEN WE GOT ALL SORTS ABOUT TAX MEASURES.
TIME,
OF
MR IDEAS
"YOU MAY RECALL THERE HAS BEEN QUITE A NUMBER OF SUGGESTIONS FLOATED IN THE PRESS. SOME OF THEM, I THINK, ARE COMPLETE NON-STARTERS. SOME OF THEM PERHAPS WORTH THINKING ABOUT A BIT MORE AND THIS IS REALLY ONE WHICH IS WORTH THINKING ABOUT A BIT MORE."
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