HC Deb 12 July 1949 vol 467 cc201-2
40. Sir Waldron Smithers

asked the Chancellor of the Exchequer why he has agreed to the increase of the fiduciary issue by the Bank of England by £50 million.

Sir S. Cripps

For the reason given in the answer to my hon. Friend the Member for Aberdare (Mr. D. Thomas) and my hon. Friend the Member for Chesterfield (Mr. Benson) on 5th July.

Sir W. Smithers

Does not the right hon. and learned Gentleman realise that he is adopting Soviet technique in this matter by saying one thing and doing the opposite? He is warning the country against inflation and then bringing in 50 million more bits of paper.

Sir S. Cripps

Perhaps the hon. Member will read the answer.