§ Q6. Mr. Hugh Jenkins
asked the Prime Minister if he will advise the replacement of Lord Cromer as Governor of the Bank of England by Mr. Thomas Balogh.
§ Mr. Jenkins
I thank my right hon. Friend on behalf of you, Mr. Speaker, and myself for the brevity and clarity of that reply. Is it not the case that as my right hon. Friend has the advice of Lord Cromer he should occasionally listen to it, because sometimes it may be good? Did Lord Cromer last night give the advice that our defence expenditure abroad had outstripped our needs? Would it not be a good idea that we should look again at defence expenditure overseas to see if we can reduce it?
§ The Prime Minister
I am deeply moved, as I am sure Lord Cromer will be, by the fact that since this Question was put down my hon. Friend has become such a rapid convert to some of the things Lord Cromer says. Last night Lord Cromer commended this Government very strongly indeed for the fact that we have been showing the way to exercise—[Interruption.]—I am taking up a very familiar sermon which the noble Lord delivered last year—we have been showing the way to keep a tight grip on the target set for expansion of public expenditure where hon. Members opposite failed to do so.