Budget Resolutions and Economic Situation

Part of the debate – in the House of Commons at 12:00 am on 8th April 1965.

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Photo of Mr Albert Cooper Mr Albert Cooper , Ilford South 12:00 am, 8th April 1965

It would be immodest of me to ask the hon. Gentleman to read the speech I made after the Budget on Tuesday. I can only tell him that his arguments now have no validity whatever. On our trading figures as shown in the Government's White Paper alone, we made a profit on visibles and invisibles of £57 million in the year. The deficit of £802 million, which the hon. Gentleman omits, was on Government spending, half of which was on loans to overseas territories, under-developed territories, and on capital investment overseas—