§ Mr. Joel Barnett
asked the Chancellor of the Exchequer why, in view of the fact that in March he proposed a contingency reserve of £2,250 million for 1982–83 for the reasons set out in paragraphs 27 and 28 of Cmnd. 8494–, in November he provided £1,500 million for 1983–84; and if he will make a statement.
§ Sir Geoffrey Howe
I regard £1,500 million as an appropriate size for the Contingency Reserve in 1983–84 in the light of circumstances as they appear now. The figure may be reviewed at the time of the Budget. Present indications are that the Contingency Reserve for 1982–83 is unlikely to be fully spent.