§ 26. Mr. Hugh Jenkinsasked the Chancellor of the Exchequer if he is aware that, calculated on the same basis, the public spending borrowing requirement (PSBR) ratio of the United Kingdom is lower than that of Japan and Western Germany; and if he will reconsider his policy of cutting back public expenditure.
§ Mr. HealeyI take it my hon. Friend is referring to a comparison of general Government financial balances as a proportion of GNP recently published inEconomic Trends. It was there made 180W clear that the figure for Japan was not comparable with those for other countries. As for public expenditure, I have nothing to add to my statement of 22nd July.
§ 30. Mr. Frank Allaunasked the Chancellor of the Exchequer whether he intends to announce any further cuts in public expenditure; and if he will make a statement about the level of public expenditure.
§ Mr. HealeyI would refer my hon. Friend to the answer I gave earlier today to the hon. Member for Eastbourne (Mr. Gow).