Expenditure Arising Out of the War

Part of Orders of the Day — Supplementary Vote of Credit, 1942 – in the House of Commons at on 9 September 1942.

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Photo of Mr John Wardlaw-Milne Mr John Wardlaw-Milne , Kidderminster

I would like to deal with some of the matters which have been raised by the hon. Gentleman the Member for Ebbw Vale (Mr. Bevan), but first of all to say a few words regarding the speech of the right hon. Gentleman the Chancellor of the Exchequer and this Vote before the Committee. When the hon. Gentleman the Member for Broxtowe (Mr. Cocks) gave us these very interesting and historical references a few minutes ago, I was a little horrified at what he envisaged to be the length of the war. I expect that we all felt that if he was right and the war was going on for another three or four years, it was rather awful to contemplate that throughout that period we would have to vote at intervals further thousand millions of money for the purposes of carrying on the struggle. My right hon. Friend spoke to-day of the dangers of inflation, and I think that this House has on previous occasions dealt fairly fully with that subject. I do not agree with him that no inflation has taken place. I do not suggest that he made that definite statement to-day, but I believe that it is the view of the Government. There has been a certain measure of inflation already, but I have paid tribute before to the measures the Government have taken to limit it as much as possible. Let us be quite clear, however, how they are doing it. It is mainly by payments of £130,000,000 or thereabouts in the form of subsidies, which, of course, are a direct charge on the taxpayer. I do not know whether it is possible for my right hon. Friend to avoid further inflation unless he is prepared to contemplate a very much wider extension of subsidies than has taken place at the present time. I understand it is possible that I may get figures from the Financial Secretary at the end of the Debate showing how much money we are raising from savings, but even——