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Other Measures To Relieve Strain On Balance Of Payments

Volume 645: debated on Tuesday 25 July 1961

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Before I deal with the private sector at home, I wish to say something about overseas expenditures.

Government expenditures overseas—defence, aid and administrative—are running at present at a rate which will certainly rise to some E480 million next year and quite possibly, on present trends, to £500 million. I do not believe that we can sustain such a level. My aim is to hold that figure down to £400 million in the year 1962–63. This compares with £330 million in 1958–59.