HC Deb 01 February 1966 vol 723 cc877-8
Q1. Sir R. Nugent

asked the Prime Minister if, in view of the growing uncertainty in the economic field, he will take steps to combine the Treasury and the Department of Economic Affairs into one Ministry.

The Prime Minister (Mr. Harold Wilson)

I do not accept the right hon. Member's premise. The Answer to the rest of the Question is "No, Sir."

Sir R. Nugent

Is the Prime Minister aware that when faced with rising incomes and near-stagnant production we have exactly the reverse of what is needed to bring our trading account into balance this year and to start repaying our borrowings from overseas? Would he not do better to bring the economic accelerator and the brake under the control of the same pair of feet?

The Prime Minister

Our experience over many years has been that, apart from election times, having them under the same pair of feet has always meant that it was the brake and never the accelerator that was used.