BRITISH FOOD SUBSIDIES

Press, Volume LXXXVIII, Issue 26662, 22 February 1952, Page 7

BRITISH FOOD SUBSIDIES

Abolition Forecast In Lords

(N.Z. Preu Association—Copyright) (Rec. 10 p.m.) LONDON, February 21. Britain would have to abolish her £400,000,000 food subsidies before she got “out of the wood,” the war-time Chancellor of the Exchequer (Lord Waverley, formerly Sir John Anderson) forecast in the House of Lords last night. Lord Waverley contended, in the economic debate, that food subsidies obscured the true economic fact that inflation was not yet under control. Excess spending on many goods needed for export must be cut. This could be done partially if people paid more for, food. Lord Waverley said he would get rid of subsidies —which he himself, began during the war—even if the £400,000,000 had to be handed back to poorer people in danger of other hardships. Viscount Hall (Labour) said Lord Waverley’s speech might be taken as a pointer to the Government’s views. Lord Woolton, the Lord President of the council, who followed, did not comment on this point in his reply to the debate, but said that Britain would have to depend more on herself and the Commonwealth. “I believe we could develop our colonies, our own land, and the Dominions, and from them get many things that will help us balance our payments," he said.