asked the Chancellor of the Exchequer if he will name those sections of society he considers to be living beyond their means.

The country as a whole is living beyond its means. In 1974 we spent over 5 per cent. more than we produced. In consequence, the current account deficit rose to £3·8 billion, which had to be covered by heavy borrowings abroad. To put this right there will have to be sacrifices. We are determined to see that these sacrifices fall on those most able to afford them.