INFLATION FROM REARMAMENT
STATE SPENDING IN BRITAIN (Special Correspondent N.Z.P.A.) (Rec. 8 p.fn.f LONDON, Sept. 18. Emphasising that the Government must deal with the threat of inflation created by rearmament by reducing its own expenditure, the “ Economist ” says: “It would be the utmost folly if this country were to allow itself to be inundated by the inflationary tides now flowing throughout the world, and add to them a deluge of its own. “By its postulates about the defence programme the Government would apparently have the country believe that not a single penny of its existing expenditure—on consumption, social sex’vices. miscellaneous Government expenditure. housing and other civil investment—can be touched. “This has been the stock answer to all demands for retrenchment during the last three years. “To persist in it now will be to make sure that the real values of these expenditures, and of that for defence, are cut by the disorderly and dishonest processes of inflation. “If the tasks of defence are to be speeded to success a realistic policy of financial retrenchment is imperative now and for several years to come.
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Press, Volume LXXXVI, Issue 26221, 19 September 1950, Page 7
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183INFLATION FROM REARMAMENT Press, Volume LXXXVI, Issue 26221, 19 September 1950, Page 7
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