Budget Proposals

Part of the debate – in the House of Commons at 12:00 am on 17th March 1952.

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Photo of Mr Reginald Maudling Mr Reginald Maudling , Barnet 12:00 am, 17th March 1952

I have greater faith than the hon. Gentleman appears to have in the responsibility and statesmanship of the trade unions.

To sum up, I consider that this Budget breaks new ground because it uses the monetary weapon for the first time in conjunction with the weapon of physical controls; because it tackles the two main social and economic problems—the need for greater benefits for those whose need is the greatest, such as the pensioners; and the need to combine, at the same time, incentives to greater output with a continuation of the Welfare State.

It is perfectly true that by looking around at the figures we can produce examples—a number of examples—of people who will be worse off as the result of the Budget. The great question is not that. That is an important question, but the great question is whether this Budget will produce the solution to our economic crisis. If it does, all will benefit. If it does not, all will suffer.