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[audioFiles]2017m5s/audio_ezfj_116_201705[/audioFiles] National Savings and
[audioFiles]2017m5s/audio_ezfj_116_201705[/audioFiles] National Savings and
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2023-10-30
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National Savings and Investments in the UK
National Savings and Investments was set up in 1861 as the Post Office Savings Bank. / The bank was backed by the government / And the money paid in by the public / provided a fund for the then chancellor to borrow to put towards public spending. / During the First World War / the scheme was expended to pull in more funds to finance the war effort, / and savings certificates were introduced. / In 1969, the Post Office Savings Bank became a separate government department / Its name was changed to National Savings at the same year. / The word "investments" was not added to the title until 2002. /
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