§ Let us look first at the likely trends of home demand. These are discussed in the Economic Survey—which was deliberately published before the Budget—and I shall therefore deal with them only briefly now. Heaven forbid that I should go all through this document with the Committee at this stage. My review of Government expenditure shows that the claims of the Government will be higher this year than last, because of higher expenditure on defence. Small increases in fixed investment and personal consumption are also likely. Investment in stocks is more uncertain. After last year's experience, and with the other increases I have just mentioned, there will probably be some increase in stocks during 1953. This does not need to be large, and we shall continue to use the monetary weapon to assist in keeping this form of demand within reasonable bounds.