ESTIMATED VALUE OF CUTS
Reuters political correspondent estimated the value of the cuts decided on in August as follows: Food .. .. £144,000,000 Films .. .. £11,000,000 Timber .. .. £ 10,000,000 Petrol .. .. £5,000,000 Consumer goods .. £5,000,000 Total .. .. £175,000,000 The tourist cuts were originally estimated to yield £12,000,000. Fresh economies will save a further £21.000,000. making £33,000,000 in all. Economies in overseas military expenditure will total about £20,000,000. Therefore the Government’s August
- decision should save altogether 1 £228,600,000. The Treasury has announced that no exchange will be available after October 1, directly or indirectly, for travel outside the sterling area without Exchange Control approval of an application through a bank. Types of application considered will be limited - to. (1) necessary business travel; (2) travel for good professional reasons or for reputable international conferences ’ or sporting events, or in compassion--1 ate cases, the utmost economy to be ' enforced; (3) health cases involving • only the gravely ill; (4) university and - post-graduate education and research, . but not for education below this t standard outside the sterling area.
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Press, Volume LXXXIII, Issue 25275, 29 August 1947, Page 7
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167ESTIMATED VALUE OF CUTS Press, Volume LXXXIII, Issue 25275, 29 August 1947, Page 7
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