687 The result of our victorious War is that 10 years after we have to face a Graver Economic Crisis than we have known since the beginning of the industrial revolution.
In some respects, we face a Graver Economic Crisis than at any time since 1931.
Then we had my hon. Friend the Member for Louth once more, on the Third Reading of the Finance Bill on 6th July, saying:In some respects, we face a Graver Economic Crisis than at any time since 1931".
In the UK, the juxtaposition of a far Graver Economic Crisis than this country has yet begun to face up to and the need for expenditure cuts across the board, even in defence-I deeply regret that, but we must face the reality-ought to be able to make us take decisions on continuing with the nuclear deterrent for the next few decades, albeit in a much more modest and less costly way than we have done in the past.