THE DEFENCE OF BRITAIN
PLANS FOR FIVE-YEAR PERIOD AUTHORITY TO RAISE £800,000,000 PROTECTION OF CIVILIANS—PROVISION OF SUPPLIES (Official Wlrelss3) (Received Feb. 16, 12.30 p.m.) RUGBY, Feb. 15 Sir John Simon, Chancellor of the Exchequer, announced in the House of Commons that he is introducing a bill increasing from the present limit of £400,000.000 to £BOO,000,000 the amount which may be borrowed for defence for 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 rearmament met out of borrowed money up to the present was just under £200,000,000, so that the result of the bill wdiich he proposed to introduce would be to provide authority for the 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 he a debate in the House of Commons on the defence programme as a whole on Monday and Tuesday.
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Waikato Times, Volume 124, Issue 20732, 16 February 1939, Page 9
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188THE DEFENCE OF BRITAIN Waikato Times, Volume 124, Issue 20732, 16 February 1939, Page 9
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