§ 56. Mr. COCKSasked the Chancellor of the Exchequer what was the burden of the National Debt in terms of commodities in 1925 and 1930, respectively, as compared with 1920?
§ Mr. P. SNOWDENI doubt whether any trustworthy calculation of the burden of the National Debt in terms of commodities is possible.
§ Mr. COCKSWould it be a conservative estimate to say that the burden of the National Debt has been doubled in the last 10 years?
§ Mr. SNOWDENNo, I do not think so; but my hon. Friend can easily make a calculation for himself by taking the figures of the gross National Debt and the index figures; but I would warn him that the result will not be very reliable.
§ Mr. COCKSDoes the right hon. Gentleman not realise that this is one of the most important questions of the day; that part of our present discontents are due to the rapid deflation undertaken by the Treasury in the last 10 years? May I have an answer to that question?
§ Mr. SMITHERSWe do not get answers.