▁cut s ▁and ▁large ▁cut s ▁in ▁public ▁sp ending ▁( not ably ▁in ▁benefit ▁pay ments ▁(" d ole ") ▁to ▁the ▁un emp loy ed ) ▁to ▁avoid ▁inc urr ing ▁a ▁budget ▁def ic it . ▁ ▁The ▁sense ▁was ▁that ▁the ▁def ic it ▁was ▁dangerous ▁and ▁had ▁to ▁be ▁reduced ; ▁the ▁proposal ▁was ▁to ▁meet ▁£ 2 4 ▁million ▁by ▁increased ▁tax es ▁on ▁the ▁rich , ▁and ▁£ 9 6 ▁million ▁by ▁econom ies , ▁of ▁which ▁£ 6 4 ▁million ▁would ▁come ▁from ▁un emp loyment ▁relief . ▁This ▁proposal ▁proved ▁deeply ▁un pop ular ▁within ▁the ▁Labour ▁Party ▁and ▁among ▁its ▁main ▁supp or ters , ▁the ▁trade ▁un ions , ▁which ▁along ▁with ▁several ▁government ▁minister s ▁refused ▁to ▁support ▁any ▁such ▁measures . ▁The ▁Chan cell or ▁of ▁the ▁Ex che quer , ▁Philip ▁Snow den , ▁ins isted ▁that ▁the ▁Report ' s ▁recommend ations ▁be ▁adopted ▁to ▁avoid ▁inc urr ing ▁a ▁budget ▁def ic it . ▁ ▁In ▁a ▁memor and um ▁in ▁January ▁ 1 9 3 0 , ▁one ▁junior ▁government ▁minister , ▁O sw ald ▁Mos ley , ▁proposed ▁that ▁the ▁government ▁take ▁control ▁of ▁bank ing ▁and ▁exports , ▁as ▁well ▁as ▁increase ▁p ensions ▁to ▁boost ▁purch asing ▁power . ▁When ▁his ▁ideas ▁were ▁turned ▁down , ▁he ▁left ▁Labour ▁to ▁form ▁the ▁New ▁Party , ▁and ▁later ▁the ▁British ▁Union ▁of ▁F asc ists . ▁ ▁National ▁Government ▁ ▁The ▁dispute ▁over ▁sp