War Costs Equal Half Britain’s Total Income
(Received 2.30 p.m.) LONDON. November 29. Sir John Simon, in the House of Commons, said the expenditure on war and other services was now equivalent to £2,400,000.000 a year, representing a two-thirds increase on prewar spending. Sir John Simon said that “the war might impose most frightful sacrifices, some of which we had hardly begun to dream. “We have struggled to get an enormous contribution from taxation, namely, nearly £1,000,000,000 a year, but we must borrow another £1,000,000,000 to meet our expenditure this year, in which there will be only seven months,” he said. “Future requirements will be considerably greater, “The present annual expenditure is already, half the total income of the community.”
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Northern Advocate, 30 November 1939, Page 5
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120War Costs Equal Half Britain’s Total Income Northern Advocate, 30 November 1939, Page 5
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