Debate on the Address

Part of Orders of the Day — King's Speech – in the House of Commons at 12:00 am on 21 August 1945.

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Photo of Mr Hugh Dalton Mr Hugh Dalton , Bishop Auckland 12:00, 21 August 1945

We shall take powers to make it permanent. If it should appear later on that those powers should be modified, that will be for a future House of Commons to determine, but in our view there is a permanent necessity. So long as a majority of the present complexion sits here, I believe they will take the view that we need this as a permanent weapon in our armoury against what I have already described as a disorderly scramble for funds by people, a number of whom are not particularly meritorious. For the effect of the scramble is not merely that the money often passes to the wrong hands, but that rates of interest are driven up by this competitive process. I wish to make it perfectly clear that we intend to take these powers permanently.