In the course of a review of the: Jestimated expenditure, the Chancellor Surprised the House by a statement out the subject of food storage against The third consideration was the most serious and important of all.
They had to look beyond the present year, The peak of defence expenditure would not be reached unfit text. year, poittaps even the year fater, Moreover, the huge outlay on war material also involved higher nual maintenance.
Nothing would contribute so much to ultimate reduction of the burd Sir John Simon observed, creased international goodwill and the reduction of armaments which would follow from it. This was the of the foreign policy the Gov ernment was pursuing, and of which the Anglo-Ialian Agreement was striking instance, He had come to the conclusion hat he would not be doing his duly if he followed the easier course by bor-
'The Government, he said, decided early this year that, at the right! moment, it would buy' sufliclent sup-piles of wheat, whale oil and sugar fo ensure that the stocks in the country should be maintained at a evel stMieient for the civil population during the early months of an ergency.
These purchases had now been made, Absolute scereey was essential to prevent prices being raised on the Knowledge that the Government was cerning into the market, and, for that reason, it took: the course of a without first applying for statutory authority in confidence that the House would yndersland its reasons and, In due course, enable it to obtain the necessary powers by legislation, which would shortly be introduced—
Reuter. hho said, "thko some proportion of the increased expendi ture on our shoulders by increasing laxation now. By so doing, we shall reduce our difictilties hereatter, and we shall show the world that this country does not quail when it faces the burden of expenditure."
Text read from the printed page and cleaned; old type leaves the occasional error.