HC Deb 27 May 1930 vol 239 cc971-2
46. Mr. MANDER

asked the Prime Minister whether the Government are now prepared to consider the desirability of issuing a national loan for reconstruction and development purposes in connection with the problem of unemployment?

The PRIME MINISTER (Mr. Ramsay MacDonald)

I would refer the hon. Member to the reply which the Lord Privy Seal gave to him on the 18th March, and also to the reply which he gave to the hon. Member for Newcastle North (Sir N. Grattan-Doyle) on the 11th March. I would remind the hon. Member that by far the greater part of the amount of approximately £100,000,000 which will be spent on development work under our programme will be financed by borrowing.


Does not the Prime Minister realise that if he were to announce a policy of that kind he would have the support of a majority of this House?