TREASURY OPPOSES DEFENCE LOAN
FINANCE BY ISSUE OF BILLS FAVOURED
United Press Associatlon.~By Electric Telegraph. — Copyright .] (Received 11.30 a.m.)
LONDON, 6. The “Daily Telegraph’s” political correspondent says that the Treasury is definitely opposed to the flotation of a loan to finance the Government’s defence programme.
It is considered that it can be adequately financed by means of Treasury bills, without heavy additional expenditure, at least during the current financial year.
Cabinet this week will consider the finalised plan of the Ministerial Committee investigating the requirements of the three services. Estimates of the total cost of the defence schemes range from £150,000,000 to £250,000.000.
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Northern Advocate, 7 February 1936, Page 5
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103TREASURY OPPOSES DEFENCE LOAN Northern Advocate, 7 February 1936, Page 5
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