Part of the debate – in the House of Commons am 12:00 am ar 4 Rhagfyr 1973.
I have said quite clearly that the Government extended expenditure beyond the rate of growth. My right hon. Friend the Chancellor told the House at the time of the Budget his calculation of the Government's borrowing requirement. There have been recent indications that the borrowing requirement may not be as great as was earlier thought. That is a very clear position.