§ Mr. Biffen
asked the Chancellor of the Exchequer if he will list the amount by 464W which he plans to reduce expenditure for 1974–75 and in the balance of the current year as a result of his statement on 17th December, indicating the main areas where such reductions will take place; and if he will make a statement.
§ Mr. Patrick Jenkin
My right hon. Friend plans to reduce expenditure for which he is responsible by about £0.8 million in 1974–75. The main area affected will be Bank of England capital expenditure. The saving which will be made in the remainder of 1973–74 as a consequence of action to reduce expenditure next year will depend to a large extent on the precise way in which the 1974–75 reductions are arranged, and no estimate can at present be given.