Capital Investment Programme

Oral Answers to Questions — National Finance – in the House of Commons at 12:00 am on 29th June 1948.

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Photo of Major Donald Bruce Major Donald Bruce , Portsmouth North 12:00 am, 29th June 1948

asked the Chancellor of the Exchequer, in view of the signs of disinflation now appearing, what proposals he has for modifications to the capital investment programme set out in Capital Investment in 1948 as modified by the Economic Survey for 1948.

Photo of Sir Stafford Cripps Sir Stafford Cripps , Bristol East

I have nothing to add to my remarks on this topic during the Third Reading of the Finance Bill last Friday.

Photo of Lieut-Commander Joseph Braithwaite Lieut-Commander Joseph Braithwaite , Holderness

Will the right hon. and learned Gentleman see that the process of deflation, so often denounced from the benches opposite, is not allowed to be camouflaged under the new title, which appears to have originated from the Minister of Health?

Photo of Major Donald Bruce Major Donald Bruce , Portsmouth North

Is my right hon. and learned Friend aware that the term was used in this House by a-former Chancellor of the Exchequer of the Opposition?

Photo of Mr Marcus Lipton Mr Marcus Lipton , Lambeth Brixton

Will my right hon. and learned Friend explain somehow or another the difference between "disinflation" and "deflation"?