22 FEBRUARY 1935, Page 3

But Mr. Neville Chamberlain had a relatively quiet House when

he came to wind up the debate. He appeared definitely to turn down the New Deal policy and emphasized his oft-repeated conclusion that the "quickest and most effective contribution that any Government can make towards an increase of employment is to create conditions which will encourage and facilitate improvement in ordinary trade." The speech seemed at first to foreshadow another Safety First election on the 1929 lines, but I am assured that this is reading too much into it. It was an attempt to reassure the City, badly rattled by political rumours, that Government stock was still high and that there was no danger of an early General Election.