21 JULY 1967, page 2

Not An End But A Beginning 'this Statement' The Defence

White Paper claims `marks the end' of the Government's major review of defence. On the contrary, it marks the beginning; the beginning of a move towards a European defence......

Public Spending : Where The Real Threat Lies

`If [public] expenditure rises more than pro- portionately to output, then the community as a whole must pay a higher proportion of its incomes . . . to the Exchequer than it......

Portrait Of The Week

The pound sterling was not looking in any shape to celebrate the anniversary, but the dread date of 20 .July (named 'St Selwyn's Day' at the time of last year's swingeing cuts......