MORE FOOD FOR BRITAIN
COST NOT TO AFFECT SUPPLY (Rec. 8 p.m.) LONDON. April 21. Confirmation that Britain is to have more food even if it has to cost more was given by Mr Douglas Jay, Financial Secretary to the Treasury, m the House of Commons. Referring to the subsidy target of £410,000'000 announced by the Chancellor of the Exchequer (Sir Stafford Cripps). Mr Jay said the Government intended that this figure should be a minimum as well as a maximum. Savings on one item of food would be used to prevent a rise m the price of another. “It may be. of course, that a steady general increase in the supply of most foods, together with the maximum ji £410,000.000. will involve rises in retail prices.” he said. “We shall certainly not restrict the supply of food to save subsidies Or to keep prices down. We also do not intend that the rate of subsidies should fall this year b°low £410.000.000, if at the same time the cost of living? should rise. “The only eventuality in which they could fall would be if there was a general fall in world food prices which. I think, is not very likely. We intend to maintain our essential twin policies of the Budget—disinflation and restraint of income and prices through stabilised food subsidies.
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Press, Volume LXXXVI, Issue 26094, 22 April 1950, Page 7
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221MORE FOOD FOR BRITAIN Press, Volume LXXXVI, Issue 26094, 22 April 1950, Page 7
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