§ Mr. Blenkinsopasked the Chancellor of the Exchequer what requests he has made to the nationalised industries to slow down their rate of expenditure on capital projects and defer possible purchases of equipment and stores; and with what result.
§ Mr. CallaghanI wrote to the Chairmen of the nationalised industries on 5th August drawing their attention to the measures being taken to restrain expenditure in the public sector and asking for their co-operation in comparable measures. I made clear that I was not asking for postponement of projects which were essential to economic growth over the next few years. As a result the Chairmen have told me that they will be able to defer expenditure totalling more than £60 million in all, of which about £40 million will fall in 1965. I am grateful to them.