HC Deb 23 March 1961 vol 637 c57W
35. Mr. C. Osborne

asked the Chancellor of the Exchequer since the relative strength of the German Deutschmark and the relative weakness of sterling is due largely to the Germans personally consuming only 58.5 per cent. of their gross national product against 66 per cent. in the United Kingdom, and fixed investment getting 23 per cent. against only 15.5 per cent. in the United Kingdom, what new steps he proposes to take to convince public opinion in this country that lower consumption and greater savings are necessary for economic survival; and if he will make a statement.

Mr. Barber

I do not accept my hon. Friend's figures for the United Kingdom without qualification, but in any event I cannot anticipate the assessment of our economic position which my right hon. and learned friend will be making in his Budget speech and his proposals to deal with it.