§ Captain NORTHasked the Chancellor of the Exchequer whether the initiation of any further major economies in national expenditure is to be conditional on the revenue from existing taxes falling short of expectation or on the Lausanne Conference involving this country in additional expenditure, or whether such economies are to be planned and carried out in any circumstances?
§ Major ELLIOTAs I informed my hon. and gallant Friend on 9th May, no opportunities of securing all possible reductions of public expenditure will be overlooked. The question, however, of what is possible must be determined in the light of all aspects of the budgetary position.