New Defence Outlay by Britain Will Limit Budget Surplus

Grey River Argus, 1 October 1948, Page 5

New Defence Outlay by Britain Will Limit Budget Surplus

LONDON, September 29

The political correspondent 01 the i'oiKShire “Host” says: “Tne Chancellor is expected to budget tor a surplus of 1300,000,000, but the cost of tne new dexence measures may cause him to revise this estimate One ol the first tasks of the Chancellor of the Exchequer (Sir Stafford cnpps), when he returns from the United States at the end of next week will be to review the possible effect of increased rearmament expenditure upon his next Budget statement, and his anti-inflation policy generally.

“One important factor will be the defence budget decided upon by the live signatory nations co-operating under tne Brussels Pact. Meetings arc at present taking place in Pans between the Defence Ministers of the five nations in order to draw up estimates of their proposed expenditure. Some forecasts place the immediate joint expenditure at £50,000,000, the major portion of which will be found by Britain. “Sir Stafford Cripps is understood to be anxious to budget for as large a, surplus as possible in order to provide a buffer against inflation.” The British Ministry of Labour and National Service has published a list of occupations from which volunteers will not be accepted for operational duties in the very early stages of an emergency. This list will be kept upder continuous review.

A second list specifies classes of people who will at this stage be accepted only provisionally. Some cases will be decided individually.