§ 58. Mr. Emrys Hughesasked the Chancellor of the Exchequer what was the total national expenditure on armaments and the Armed Forces between the world wars.
§ Mr. JayFrom 1922 to 1934, both inclusive, the net expenditure on defence remained at a fairly constant level and amounted to approximately£1,458 million, or an average of£112 million per annum. In the next four years covering the rearmament period, expenditure on defence (including£193 million met from issues under the Defence Loan Act. 1937) amounted to£968 million, making a total for the whole period of£2,426 million. This excludes the transitional years immediately following the first world war, and the year 1939 in which the second began.