£1,000,000,000 for the War
Stupendous National Expenditure
AIR BATTLES OVER THE COAST
The House of Commons has passed a further vote of credit for the war amounting to £1,000,000,000.
The Chancellor of the Exchequer (Sir Kingsley Wood) stated that the £700,000,000 granted by the House in March is approaching exhaustion, and the present rate of war expenditure is rather more than £50,000,000 a week.
The weekly rate of war expenditure for the last four weeks has been £54,000,000 equivalent to a daily rate of over £7,500,000
Source:
Bromley & Kentish Times, 12th July 1940, page 5
