Orders of the Day — National Economy Bill.

Part of the debate – in the House of Commons at on 29 September 1931.

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Photo of Sir Stafford Cripps Sir Stafford Cripps , Bristol East

We on this side of the House have long predicted that capitalism as a system would fail. We now see that it has brought the whole structure of finance and industry to ruin, inflicting fresh miseries and sufferings on the workers throughout the world. We shall fight this Bill to the end, because we are certain that these cuts are neither sound financially nor just in their incidence, and because, too, there can be no need, in the existing circumstances, to use the emergency powers that are given by this Bill. We believe that instead of trying to rush through a Bill of this sort the first vital matter to be attended to is the reorganisation and reconstruction of the financial machinery and industries of this country, so that the full benefit may be derived from them, not by those who own the capital, but by the nation as a whole, and to this end the financial and industrial machine must be brought under public control.

The real issue which lies between us and the Government on this Bill is the far-reaching issue of whether this country shall continue to be dominated by the capitalists of the world, whether of our own or some other nationality, or whether, as we believe, and as apparently the right hon. Gentleman who preceded me believed, a complete change must be wrought in our system by bringing under the control of this House the forces of finance and industry which have so great a power over the lives of individuals in this country, a power and influence which in our view has been used in the past with such disastrous effect upon the standard of living of the workers. It is only by controlling that influence that we believe it can be used for the good of the nation as a whole. Once this country is awakened to the reality of that issue, and realises the reason why it has been rushed into this heartless and unjust measure by the capitalists, we shall be confident that it will speak with no uncertain voice in condemning a government of capitalists masquerading under the guise of national saviours.