§ Major ELLIOTasked the Chancellor of the Exchequer (1) whether his attention has been called to the Treasury Memorandum handed in by Sir Richard Hopkins, controller of finance and supply services of the Treasury, before the Royal Commission on Unemployment Insurance, on 29th January, in which it was stated that this additional borrowing, for purposes other than productive, is now on a scale which, in substance, obliterates the effect of the Sinking Fund; and whether this memorandum was issued with his authority;
(2) whether his attention has been called to the Treasury Memorandum 2266W handed in by Sir Richard Hopkins, controller of finance and supply services of the Treasury, to the Royal Commission on Unemployment Insurance on 29th January, in which it was stated that these vast Treasury loans are coming to represent in effect State borrowing to relieve current State obligations at the expense of the future; that this is the ordinary and well-recognised sign of an unbalanced Budget; and whether this memorandum was issued with his authority?
§ Mr. P. SNOWDENI would refer the hon. and gallant Member to the answer which I gave on Tuesday last on this subject in reply to questions by the right hon. Gentleman the Member for South Molton (Mr. Lambert) and the hon. Member for Leicester (Mr. Wise).