§ 23. Mr. Croninasked the Chancellor of the Exchequer what action he is taking designed to broaden the pattern of increased consumer spending, having regard to the present concentration of increased consumer spending on durable goods.
§ Mr. Maurice MacmillanThe initial effect of the Budget and July measures has been to increase sales of cars and household durable goods; the retail sales figures for October suggest that the growth of consumer spending may now be spreading into other areas.
§ Mr. CroninWith nearly one million unemployed, is not the hon. Gentleman being rather complacent about the increase in consumer spending? Is not the real problem the general lack of confidence in the Government's economic policies? Would this not be partly offset if the Chancellor were to divert more spending power into the hands of those who have an urgent need to spend—namely, the lower income group, particularly retired pensioners.
§ Mr. MacmillanI must ask the hon. Gentleman to await anything my right hon. Friend may have to say on that latter point. As to his general point, the lack of confidence is not in the policies of Her Majesty's Government, but in world conditions of trade and other uncertainties which are outside our control.