asked the Prime Minister whether his attention had been drawn to the statement of the Lord President of the Council at his Press conference on 20th August, 1947, describing the condition of the country as one of over-full employment; and whether that statement correctly represented, and still represents, the conclusion of His Majesty's Government.

As the hon. and learned Member will be aware, he has pulled out of their context four words from a fairly long, reasoned analysis of the need for pruning the investment programme. That analysis represents the conclusion of His Majesty's Government.

Is the right hon. Gentleman aware that I have not misrepresented anything, and that I was quoting from a very full report that appeared prominently in the "Manchester Guardian" in which those words were placed in inverted commas both in a headline and in the body of the article? I make no complaint.

I am making no complaint, but it is the fact that these are four words taken out of a long passage. I am sure that the hon. and learned Gentleman has studied the passage.