Reported in Hansard

A Labourite on Profits
Mr. Parkin (Labour, Stroud): “. . . I think that to be attacking the profits is to start at the wrong end; I think that we and the trade union movement ought to be gunning for the firms who are not making any profits. That is our problem in connection with prices, and one which arises out of our success at achieving full employment. We are protecting the inefficient. The big gap of prices is the one which has to be closed, and, therefore, we ought to gun for the fellow not making profits.” (Debate on Economic Situation, 26.10.49.)

And Another on Capitalism
Mr. Chamberlain (Labour, Norwood): “. . . Then the hon. Member said that the Government are pledged to destroy capitalism. So far from that, they have made it clear again and again that whereas a certain proportion of our economy is to be nationalised, yet the major part of it will remain the province of private capital enterprise, and surely nobody suggests that we should destroy that large part of our economy which is recognised as an essential and important section.” (Debate on Economic Situation, 26.10.49.)

Income from Foreign Investments
Mr. Awbery asked the Chancellor of the Exchequer what was the total amount of foreign investments and the income from them for the years 1913, 1920, 1938 and 1945.

Sir Stafford Cripps: “The figures are as follows: —In 1913, total value about £4,000 million, income £210 million. In 1920, total value £3,200 million to £3,700 million, income £200 million. In 1938 nominal value £3,692 million. These are all private estimates. Gross income from interest, profits and dividends in 1938 is estimated at £205 million and payments at £30 million making a net income of £175 million. No figures are available or the values of investments in 1945, but proceeds of sales during the war amounted to £1,118 million. Gross income in 1945 was £170 million payments £73 million and net income therefore £97 million. (Question Time, 8.11.49).

Nationalisation—A Tory Viewpoint
Mr. Raikes (Conservative, Liverpool, Wavertree): “. . . Nationalisation is now a fact, and I say quite frankly, speaking from this side of the house, that it is the duty, of all sides to try to make the National Coal Board work, and to work effectively.” (National Coal Board Debate, 10.11.49.)

It’s News to Us
Mr. Parkin (Labour, Stroud): “. . . The weakness of some of my hon. Friends on this side of the House is that they do not realise that much of their propaganda—and it may be some of the legislation—springs from the time when we were dispossessed instead of being the ruling classes as we are at the present time.” (Debate on Economic Situation, 26.10.49.)

Better Than Nothing!—The Standby of all Labour Governments

Mr. Younger (Under Secretary of State, Home Office): “. . . Reverting for a moment to high explosive defence, I believe that in broad terms it is the expert opinion that it is three times better to be in a house than to be in the open; and it is five time better to be in an ordinary brick surface shelter than to be in a house. That is to say, it is 15 times better to be in a shelter than in the street. It is not complete protection, but it is better than nothing . . .”
“. .. The suggestion that the fact of a person being in a shelter would make no difference at all is contrary to the advice I am given. I am advised that there is a radius from an atomic explosion at which these shelters could be helpful, and they are better than nothing.”
“. . . I should not want it to be thought that anything I am saying is to be taken as suggesting that the expert view of the Government is that the 1945 standard of protection is either adequate against the atomic bomb or against what could be expected in the matter of high explosives. All I do say is that, pending further provision on a tremendously increased scale to meet the country’s requirements, it is very much better to have what we have got than nothing at all.” (Demolition of Air-Raid Shelters, 28.10.49.)

S. H.