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Stock Appreciation

Part of Orders of the Day — FINANCE (No. 2) BILL – in the House of Commons at 12:00 am on 16th July 1975.

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Photo of Mr Peter Hordern Mr Peter Hordern , Horsham and Crawley 12:00 am, 16th July 1975

The hon. Member for Ipswich (Mr. Weetch) is absolutely wrong. When I spoke about the level of unemployment I was referring to it as a sign of the lack of confidence of business and industry. Indeed, I think that the growth of unemployment is inevitable in any case. I do not shrink from the proposition—I never have done—that a cut in public expenditure necessarily means an increase in the level of unemployment. If public expenditure is not cut now, the resulting increase in unemployment will inevitably be far higher than it is at present. That is the point that must be grasped.