Orders of the Day — Budget Proposals and Economic Situation

Part of the debate – in the House of Commons at 12:00 am on 9th April 1959.

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Photo of Mr Harold Wilson Mr Harold Wilson , Huyton 12:00 am, 9th April 1959

The right hon. Gentleman's argument, as I understand it, is that last year, which is the situation we are talking about, when there should have been an increase and we were going full out, it would not have lowered costs to increase production. Is it not true that last year we already had in the economy £1,000 million of additional investment capacity put in in the previous two years, but which had not been used because production was not increased in those two previous years?