§ Mr. Hector Hughes
asked the Postmaster-General if he will give details of the progress of the Giro system indicating the present number of depositors; what proposals he has for its future development; what was the cost to the Exchequer of the changes recently made; and what estimate he has made of the profits resulting from those changes.
§ Mr. Stonehouse
The National Giro is opening for service on Friday, 18th October. An announcement giving the number of applications to open Giro accounts will be made very shortly. I will be considering a number of improvements to Giro services in the light of experience. The cost of revising the Giro application form was not borne by the Exchequer and was in any case negligible. The increase in profit which will result by making the service more attractive is not identifiable.