§ 67. Sir W. Smithersasked the Chancellor of the Exchequer on what prices and on what date he based his estimate of £4,700 million for the three-year re-armament programme; and to what extent the estimate is altered by the increase of prices since it was made.
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§ Mr. JayThe figure was given by my right hon. Friend the Prime Minister on 29th January and was based on price levels then current. It would be premature to adjust the figure to allow for price changes in the short period since that date.