When Labour won the
1945 general election, Clement Attlee appointed Cripps
President of the Board of Trade, the second most important economic post in the government. Although still a strong socialist, Cripps had modified his views sufficiently to be able to work with mainstream Labour ministers. In Britain's desperate post-war economic circumstances, Cripps became associated with the policy of "austerity". As an upper-class socialist, he held a puritanical view of society, enforcing rationing with equal severity against all classes. Together with other individuals, he was instrumental in the foundation of the original College of Aeronautics, now
Cranfield University, in 1946. The Stafford Cripps Learning and Teaching Centre on Cranfield's campus is named after him. In 1946, Soviet jet engine designers approached Stalin with a request to buy jet designs from Western sources to overcome design difficulties. Stalin is said to have replied: "What fool will sell us his secrets?" He gave his assent to the proposal, and Soviet scientists and designers travelled to the United Kingdom to meet Cripps and request the engines. To Stalin's amazement, Cripps and the Labour government were willing to provide technical information on the
Rolls-Royce Nene centrifugal-flow jet engine designed by RAF officer
Frank Whittle, along with discussions of a licence to manufacture Nene engines. The Nene engine was promptly
reverse-engineered and produced in modified form as the Soviet
Klimov VK-1 jet engine, later incorporated into the
MiG-15 which flew in time for use against UN forces in North Korea in 1950, causing the loss of several
B-29 bombers and cancellation of their daylight bombing missions over
North Korea. Also in 1946, Cripps returned to India as part of the
Cabinet Mission, which proposed formulae for independence to the Indian leaders. The other two members of the delegation were
Lord Pethick-Lawrence, the
Secretary of State for India, and
A. V. Alexander, the
First Lord of the Admiralty. The solution devised by the three men, known as the Cabinet Mission Plan, was unsatisfactory to the
Indian National Congress mainly its principal leaders, and instead of having to hold together the emerging one nation, Indian National Congress leaders travelled further down the road that eventually led to
Partition. In 1947, amid a growing economic and political crisis, Cripps tried to persuade Attlee to retire in favour of
Ernest Bevin, who was in favour of Attlee remaining. Cripps was instead appointed to the new post of
Minister for Economic Affairs. Six weeks later
Hugh Dalton resigned as
Chancellor of the Exchequer and Cripps succeeded him, with the position of Minister for Economic Affairs now merged with the Chancellorship. He increased taxes and continued strategic rationing which muted consumption to boost the
balance of trade and stabilise the
Pound Sterling seeing Britain trade its way out of a risk of fiscal and
economic gloom. He was among those who brought about the
nationalisation of strategic industries such as coal and steel. Amid financial problems from 1948 to 1949, Cripps maintained a high level of social spending on housing, health, and other welfare services, while also maintaining the location of industry policy. Personal incomes and free time continued to rise, as characterised by cricket and football enjoying unprecedented booms, together with the holiday camps, the dance hall, and the cinema. In his last budget as Chancellor (1950), the house building programme was restored to 200,000 per annum (after having previously been reduced due to government austerity measures), income tax was reduced for low-income earners as an overtime incentive, and spending on health, national insurance, and education was increased. During the period Cripps imposed harsh foreign currency restrictions on private and commercial travellers, he was paying for his grandchildren's Swiss boarding school and for both his daughter's and his own Swiss sanatorium. Cripps had suffered for many years from
colitis, inflammation of the lower bowel; a condition aggravated by stress. In 1950, his health broke down and he was forced to resign his office in October. He
resigned from Parliament the same month, and at the
resulting by-election on 30 November he was succeeded as the MP for
Bristol South East by
Anthony Wedgwood Benn. ==Personal life==