asked the Chancellor of the Exchequer how much of the 1948 decrease of £315 million deficit in our
(iii) The development of technical advances and new practices, and research and development projects contributing to industrial progress; and
(iv) Projects which will yield marked and immediate reductions in costs.
The Capital Issues Committee will, as hitherto, rely upon the various Government Departments for advice as to the extent to which particular applications made to the Committee conform to the general principles outlined above.
This memorandum should be regarded as superseding the Special Memorandum of 2nd December, 1947.