COLOSSAL COST OF WAR

Southland Times, Issue 24355, 8 February 1941, Page 7

COLOSSAL COST OF WAR

OVER £10,000,000 DAILY (British Official Wireless) RUGBY, February 6. Figures, which he said were striking proof of the country’s determination to prosecute the war with all its might, energy and speed, were given by the Chancellor of the Exchequer, Sir Kingsley Wood in the House of Commons, when he asked for £1,000,000,000 on a vote of credit for the financial year 1941-42 and also for a supplementary vote of £600,000,000 for the current financial year. The daily expenditure he said, which a year ago was £5,000,000 was now over £10,500,000 —8,000,000 for the fighting services and £2,500,000 for other war services. The daily expenditure had, therefore, more than doubled in a year and had increased by nearly £1,500,000 since he last asked for a supplementary vote. Sir Kingsley Wood said: ‘'This, with some margin for contingencies, should cover us until the end of the present financial year.” The Chancellor revealed

that, including services of State other than war services, Britain was now spending at the rate of approximately £12,250,000 daily. All these matters, the Chancellor emphasized, offered anxious consideration in relation to the next Budget. It was imperative that civilian consumption should continue to be curtailed and every penny possible saved and lent to the State. The Government, added the Chancellor, was very much alive to the danger of inflation and would not hesitate to take every practical step to control the danger should it ever arise. The House agreed to both votes of credit, totalling £1,009,000,000 and £600,000,000, respectively.