BUDGET SURPLUS
Good News for Britain DOLLAR DEFICIT REMAINS (N.Z.P. A.—Copyright). (Rec. 10.40 a.m.) LONDON, Mar. 30. Sir Stafford Cripps on April 6 will announce a record Budget surplus, with a domestic credit balance of probably £800,000,000 sterling to a country striving to avert economic disaster, says Reuter’s political correspondent. Even if Sir Stafford Cripps, by midsummer, succeeds in closing the gap between Britain’s imports and exports, British trade will still show a dollar deficit of between £250,000,000 and £300,000,000 sterling. Nevertheless, the dollar deficit will be considerably reduced if the production targets for 1948 are achieved.
The correspondent predicts: ! (1) That £400,000,000 sterling food subsidies will certainly continue.
(2) That most of the purchase tax imposed on commodities to check domestic spending will remain. Y (3) That the domestic income tax will continue at 9s in the £.
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Ashburton Guardian, Volume 68, Issue 144, 31 March 1948, Page 3
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138BUDGET SURPLUS Ashburton Guardian, Volume 68, Issue 144, 31 March 1948, Page 3
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