Public Expenditure

Part of Oral Answers to Questions — National Finance – in the House of Commons at 12:00 am on 9th March 1965.

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Photo of Mr James Callaghan Mr James Callaghan The Chancellor of the Exchequer, Member, Labour Party National Executive Committee 12:00 am, 9th March 1965

The hon. Gentleman does not seem to appreciate that what he is asking for is that local authorities should have more access to public funds, which the Exchequer would have to carry below the line, so that it would have to borrow more from the money market.