§ 51. Mr. Stokes
asked the Chancellor of the Exchequer whether, in view of the Government's declaration that borrowings will only be from genuine savings, he will state the estimated value of the net annual savings for the 12 months ended 31st December, 1938, or 31st March, 1939, whichever is the more convenient?
§ Sir J. Simon
No official estimate of the amount of savings is available. But I may say I look forward to a big increase in savings under war conditions, if people will only realise how important is the contribution they can make thereby to winning the war. I may add that the declaration to which the hon. Member alludes was not and could not be founded on estimates of the amount of savings; its essential point was that the Government will do all in their power to avoid having recourse to inflationary expedients.