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desirable, and although I should do so with great anxiety as to the consequences, I am willing to go so far to meet the views of my colleagues if they will agree to the general reduction I propose.
8.
If this is agreed I propose that the reduction of civil investment other than housing from £329 millions to £312 millions should be implemented by applying the lower proposals for new building and plant and machinery put forward in my memorandum to the Economic Policy Committee (E.A.(52) 75 of 10th June, 1952) for all items other than manufacturing industry.
9.
If this compromise proposal is adopted it will involve substantial reductions in the requirements for programmes other than housing. In my view it is essential that in these circumstances housing should be brought within the starting date control exercised by the Regional Building Committees, from which it alone is now exempt. So long as housing remains exempt and is a rising programme it secures, in effect, local priority over all other building work of no matter what importance.
PUBLIC STATEMENT
10.
I have made some progress with the Minister of Housing and the Minister of Works as to the form of the statement to be made in the debate next week, on the assumption that the compromise proposal set out in paragraphs 7 - 9 above is accepted.
Treasury Chambers, S.W.1.
22nd July, 1952.
R.A.B.
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