HC Deb 06 April 1948 vol 449 c63

I now pass to the major proposals for the adjustment of taxation to the special needs of this year. I may perhaps repeat these needs—to give an excess of Government revenue over every kind of Government expenditure, so that that excess can be used to counter the inflationary tendencies; and to provide the maximum incentive we can afford for greater production. The proposals that I am making must be considered as a balanced whole, and must not be taken one by one in isolation. They are intended, as a whole, to produce a certain effect upon our economic situation, and to fit in with the necessities disclosed by the Economic Survey.

Forward to