§ Mr. H. Macmillan
I would refer both hon. Members to the reply on this subject which I gave to the hon. Member for Oldbury and Halesowen (Mr. Moyle) on 24th January.
§ Mr. Chetwynd
Will the right hon. Gentleman confirm the reported statement, attributed to him on taking over his new office, that "There ain't going to be no inflation"?
§ Mr. Macmillan
I read all the newspapers very carefully, and I did observe this humorous statement which was put into my mouth. I am grateful to the hon. Member for recalling it.
§ Lieut.-Colonel Bromley-Davenport
Does not inflation bear directly upon the cost of living, and has not the cost of living risen far less in the last three years than it did the last single year of office of the Socialist Government, when the concrete-skulled Lobby fodder opposite were in power and brought this country to the verge of national bankruptcy?
While we all hope that the Chancellor of the Exchequer will be more factual, objective and accurate in his pronouncements from the Box than he has just been with that Answer, will he tell us whether he has now studied the effects of his predecessor's efforts—or failure—to deal with inflation over the last four years, and in particular the inflationary effect of the supplementary 758 Budget? Has the Chancellor no further proposals to put before us than a continuation of the disastrous policy followed by his predecessor?