HC Deb 16 March 1943 vol 387 cc1040-1
55. Mr. A. Edwards

asked the Chancellor of the Exchequer what proportion of the estimated savings during the "Wings for Victory" campaign will be in excess of the amount normally expected in the same period; what proportion of the amount is estimated will be actual savings out of current earnings; and whether the number of aeroplanes produced will in any way be effected by the success or failure of the campaign?

Sir K. Wood

In reply to the first two parts of the Question, it is not possible to say how much of the amount subscribed during the "Wings for Victory" campaign would have been subscribed in any event, or what proportion of the total will consist of savings out of earnings, whether current or otherwise. In reply to the last part, a successful "Wings for Victory" campaign will help to secure a sound financial and economic basis for the war effort and will, therefore, definitely assist war production.

Mr. Edwards

Does the right hon. Gentleman realise that there is not an authority in this country who would agree that it makes the slightest difference to production, but that everyone, without exception, would agree that it does increase the charges to the Chancellor enormously; and is this not a fraudulent practice, which should be brought to an end without any further delay?

Sir K. Wood

The hon. Member may be content that he is probably the only one who holds that opinion on the matter.

Mr. Stokes

May I say that I share that opinion; and may I ask the right hon. Gentleman whether he anticipates that the genuine savings in these "Wings for Victory" weeks will be more than 20 per cent. and whether all the rest will not be bogus money from the banks?

Sir K. Wood

I have already informed the hon. Member that I will include in the White Paper which is to be issued about the time of the Budget, full particulars about savings of this sort.