HC Deb 30 June 1964 vol 697 cc1117-8
8. Mr. Bence

asked the Chancellor of the Exchequer what proportion of the increased revenue required to finance the increased public expenditure set out in Public Expenditure 1963–64 and 1967–68, Command Paper No. 2235, will be raised by borrowing

Mr. Boyd-Carpenter

This is a matter to be decided in the context of the Budget for each year in question, and the hon. Gentleman will not expect me to anticipate my right hon. Friend's next three Budget statements.

Mr. Bence

It was on the conviction that the right hon. Gentleman and his right hon. and hon. Friends would not be presenting future Budgets that I put down this Question to ascertain whether there was any provision for increasing taxation or for extra borrowings. It is on that that I would like an answer.

Mr. Boyd-Carpenter

It is a question for each Budget and for the judgment of the Chancellor of the Exchequer to decide, in the light both of the level of public expenditure and the demand on the economy, what proportion of that total expenditure should be met out of taxation and what proportion out of borrowing.

Mr. Callaghan

As the increase in expenditure is to be at the rate of 4.1 per cent. per annum for four years in succession, can the right hon. Gentleman tell us whether there has been any period in the lifetime of this Government since 1951 when they have managed to sustain a growth rate of 4.1 per cent. per annum for four successive years? If not, how does he propose that it should be financed by a Labour Government?

Mr. Boyd-Carpenter

The hon. Gentleman has put the snag in the tail of that supplementary question. What is possible and will be achieved under the Conservatives would plainly be impossible under a Socialist Administration.

Mr. Speaker

Commander Kerans. Question No. 10.

Mr. Callaghan

With respect, Mr. Speaker, we had seven supplementary questions about Covent Garden.

Mr. Speaker

Order. We are not making very good progress.

Mr. Bence

On a point of order.

Mr. Speaker

Order. In so far as we spread ourselves about Covent Garden, I accept the blame.

Mr. Bence

On a point of order. In view of the unsatisfactory nature of the reply to both my Questions, I beg to give notice that I shall seek to raise this matter on the Adjournment at the earliest opportunity.

Back to