HC Deb 06 December 1955 vol 547 cc189-90
33. Mr. Langford-Holt

asked the Chancellor of the Exchequer by what percentage he anticipates private expenditure will be reduced as a result of his recent Budget.

Mr. R. A. Butler

In the Financial Statement estimates were given of the expected yield of the tax changes introduced in the Budget. These estimates give an indication of the direct effect on private purchasing power of the fiscal measures introduced by the Government. The course of private expenditure will, however, be influenced directly and indirectly by the whole range of measures to regulate demand which the Government have introduced, including the policy of credit restriction.

Mr. Langford-Holt

Can my right hon. Friend say whether his policy is also directed to obtaining an equal or similar reduction in the amount of public expenditure as in private expenditure?

Mr. Butler

Yes, Sir. I made statements on the subject of public expenditure at the time.