BORROWING FOR DEFENCE
BRITAIN DOUBLING LIMIT HUGE SUM FOR FIVE-YEAR PERIOD AUTHORITY FOR UPTO EIGHT HUNDRED MILLIONS [ British Official Wirelees. ] RUGBY, Feb. 15. The Chancellor of the Exchequer, Sir John Simon, announced in the House of Commons that he is introducing ft Bill to increase from the present limit of £400,000,000 to £800,000,000 the amount which may be borrowed for defence in the five-year period ending in March, 1942. He recalled that last November he intimated that some increase would be needed on the £400,000.000 authorised by the Defence Loans Act of 1937. The expense on re-armament met or.t of borrowed money up to the present was just under £200,000,000, so that the result of the Bill he proposed to introduce would be to provide authority for future borrowing for defence of just over £600,000.000. He proposed to include among the purposes for which further defence loans might be used expenditure on civil defence and the purchase of food and other essential commodities. There will be a debate on the defence programme as a whole in the House of Commons on Monday and Tuesday next.
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Wanganui Chronicle, Volume 83, Issue 40, 17 February 1939, Page 7
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185BORROWING FOR DEFENCE Wanganui Chronicle, Volume 83, Issue 40, 17 February 1939, Page 7
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