§ 40. Sir J. Langford-Holtasked the Chancellor of the Exchequer whether he is satisfied with the rate of progress of his plans for an increased rate of public expenditure; to what extent he has taken into account the effect of this increase on the export capacity of industry and on 185W inflationary pressure on the economy; and if he will make a statement.
§ Mr. DiamondThe public expenditure out-turn for 1968–69 and the estimate for 1969–70 are both within the targets laid down in January last year. These targets, and also that for 1970–71 laid down in Cmnd. 3936, were selected in the light of the best available estimates of the total of resources available to the economy and as fully consistent with the Government's balance of payments objectives.