War Savings Campaigns (Cost).

Oral Answers to Questions — National Finance. – in the House of Commons on 10th March 1942.

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Photo of Mr Alfred Edwards Mr Alfred Edwards , Middlesbrough East

asked the Chancellor of the Exchequer whether he is aware that every week many man-hours are lost to production and much petrol is used on war savings campaigns and Warship Week parades, the only effect of which is to double the cost of interest payments to the Treasury on the money so raised; and whether he will take steps to prevent this waste of energy and public money?

Photo of Sir Kingsley Wood Sir Kingsley Wood , Woolwich West

I am of opinion on the contrary that Warship Weeks, as an integral part of the National Savings Movement, play a vital part in keeping before the public the necessity for spending less and saving more and thus applying the maximum part of the national output to war needs.

Photo of Mr Alfred Edwards Mr Alfred Edwards , Middlesbrough East

Am I to take it that the Chancellor does not question the statement that this doubles the cost of raising the money?

Photo of Sir Kingsley Wood Sir Kingsley Wood , Woolwich West

I do not assent to that statement.

Photo of Mr Alfred Edwards Mr Alfred Edwards , Middlesbrough East

Is the Chancellor aware that there will be an opportunity later in the day of raising these points? Will he be prepared to give statistical evidence to justify the position?

Photo of Sir Kingsley Wood Sir Kingsley Wood , Woolwich West

I think that will be a matter for the Chair.

Photo of Captain William Strickland Captain William Strickland , Coventry

Is it not a fact that in most cases the towns and cities take it upon themselves to pay the expenses?