ABSTRACT
In determining the rate of benefit required for subsistence under the Plan for Social Security in earlier Report, it was assumed that prices after the war would be about 25 per cent. The quantitative aspects of full employment are discussed in a memorandum by Mr. N. Kaldor, printed as Appendix C to the Report, and are summarised in paras. The actual national outlay in 1938 at the level of employment then reached with several alternative dates to full employment; and the prospective national outlay under full employment in 1948. The outlay of all private citizens is limited rigidly by their financial resources, by what they possess or can borrow. There are good reasons also for reducing steadily the rate of interest on State borrowing and by consequence on other borrowing. To treat the whole problem of agriculture would require another lengthy Report, but a full employment policy has important bearings on agriculture which must be noted briefly.
