On 17 April 1956 the then Chancellor Harold Macmillan unveiled plans for a new state saving scheme. It was bold, it was brash, but it also drew criticism from Shadow Chancellor Harold Wilson. The then Labour chancellor urged MacMillan to examine the radical proposal as part of the Government’s bill on gambling and betting.
But despite the protests from the Labour Party, and also from well-meaning men of the cloth, Premium Bonds made their debut on 1 November 1956. The first person to buy a Premium Bond was Alderman Sir Cuthbert Ackroyd who later became Lord Mayor of London. But it is unclear whether Ackroyd ever won the top prize, which was £1,000 at the time….
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