HUGE COST OF WAR
Britain Spending £12,000,000 a Day (Rec. 9.4 pan.) RUGBY, Feb. 21. The total Government expenditure on all services is at the rate of nearly £14,000,000 a day of which war expenditure—constantly increasing—accounts for £12,000,000 a day. The Chancellor of the Exchequer (Sir Kingsley Wood) disclosed these figures at the opening of Warships Week at Manchester which hopes to raise £10,000,000 for the adoption of the battleship Nelson. “Savings and still more savings,” added Sir Kingsley Wood, “are therefore imperative to the very limit of sacrifice.” Much had been achieved. Two of the most encouraging signs were: (1) That in 1941 subscriptions to all forms of Government securities were 40 per cent higher than in 1940; and (2) that last year balances in the post office and trustee savings banks increased by the really remarkable figure of 73 per cent above 1940. Taxation and savings were two of the principal weapons for keeping inflation dangers in check and it is well within the powers of the Government and the people acting in partnership to achieve this end.
Manchester’s Warships Week is one of more than 100 launched throughout Britain to-day. In other centres 82 are drawing to a close.
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Bibliographic details
Timaru Herald, Volume CLI, Issue 22204, 23 February 1942, Page 5
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202HUGE COST OF WAR Timaru Herald, Volume CLI, Issue 22204, 23 February 1942, Page 5
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