MOUNTING COSTS
BRITISH ARMAMENTS ECONOMIES ELSEWHERE • NO NEW PUBLIC WORKS PLANS LONDON, July 29 Because British expenditure on armaments is mounting, the Government will pursue a policy of economy in other spheres. The Prime Minister, Mr. Chamberlain, has virtually decided not to introduce further public works schemes at the moment to alleviate unemployment. The Government's loan expenditure on these has already reached £190,000,000 and only 120,000 people have been directly or indirectly employed. Many schemes are regarded as good, but not very effective in increasing employment. The capital expenditure controlled by the State, apart from rearmament, is about £250,000,000. Mr. Chamberlain is convinced that a slight rise in the trade level will be far more effective; in reducing unemployment than artificial schemes. Accordingly, the policy henceforth will be to stimulate trade, not oniv financially and economically, but .by efforts to remove political anxieties j and create public confidence.
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New Zealand Herald, Volume LXXV, Issue 23107, 4 August 1938, Page 13
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148MOUNTING COSTS New Zealand Herald, Volume LXXV, Issue 23107, 4 August 1938, Page 13
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