|Posted: November 7, 2009, 9:03 pm - IP Logged|
The UK has similar Bonds, called Premium Bonds. In his Budget of 17 April 1956, Harold Macmillan,then Chancellor of the Exchequer, announced that Premium Bonds were to be launched to reduce inflation and to encourage thrift among those who were attracted not by earning interest but by winning prizes.
In the early years Premium Bonds were the lottery of the day; celebrities including Bruce Forsyth, Bob Hope and Dame Judi Dench announced the top prizes and they were popular as presents, as well as for saving.
However, since the 1990s, Premium Bonds have undergone a substantial renaissance, with the amount invested rising from £4 billion in 1994 to £40 billion in 2008.
I have UK premium bonds, I buy monthly by direct debit. My bonds are included in all monthly draws, and I have the change to win the monthly million pound top prize, or one of the smaller prizes.
The US should strongly consider introducing such bonds, they could be called "AMERICA BONDS", who wouldn't want to buy them? The Federal Government could raise billions!
We all get a lot out of lotteries!