HC Deb 12 April 1943 vol 388 cc935-7
The Chancellor of the Exchequer (Sir Kingsley Wood)

I think it important and timely that before I turn to the question of our domestic finance, I should first give the Committee some account as to how we stand in the larger economy of the external costs of the war. Anyone who reflects upon the many fronts all over the world upon which our Forces are engaged, and remembers also the ceaseless inflow and outflow of supplies to and from this country, will realise that the external costs that we have to bear are of a heavy order and have considerable Budgetary implications. The burdens that we are carrying currently and the external obligations that we are building up for the future in the interests of the united war effort are not, I think, sufficiently appreciated, and it is desirable that I should give the Committee some account of this important aspect of war finance.