§ 47. Mr. MABANEasked the Chancellor of the Exchequer whether the Government's policy of scientific expansion includes a process of currency inflation or any similar monetary expedient for maintaining or raising the price level?
Mr. CHAMBERLAINI would refer my hon. Friend to the reply which I gave to his question on the 2nd March, to which I cannot usefully add.
§ Mr. MABANEIs the right hon. Gentleman aware that the hopes of the business community were raised by his definite statement, last autumn and on the 16th February, that the Government 179 would raise sterling prices; and is he aware that those hopes are turning to despair in the absence of any positive declaration of policy by the Government?
Mr. CHAMBERLAINI never made any statement that the Government would raise sterling prices. My statement was that the Government desired to see sterling prices rise. I have on various occasions explained the policy in that connection, and have pointed out that, if we had not succeeded in raising sterling prices, at any rate we had prevented them from falling, as gold prices have fallen.
§ Mr. THORNEBy the use of the £150,000,000.
§ Mr. COCKSHas the right hon. Gentleman yet discovered what is the meaning of the policy of "scientific expansion"? If not, will he ask the Prime Minister, because it was his phrase?