HC Deb 31 January 1956 vol 548 cc757-8
53. Mr. Chetwynd

asked the Chancellor of the Exchequer his plans for dealing with inflation.

47. Mr. Lewis

asked the Chancellor of the Exchequer whether he will give details of his plan to reduce the cost of living generally; and whether he will arrange to have this plan published in HANSARD.

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?

Mr. Macmillan

As usual, my hon. and gallant Friend's statistics are perfectly correct.

Mr. Wilson

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 Budget? Has the Chancellor no further proposals to put before us than a continuation of the disastrous policy followed by his predecessor?

Mr. Macmillan

I must not anticipate my Budget statement.