Upward Trend In U.S. Economy
(N.Z. Press Association—Copyright) LONDON, November 6.
Mr R. A. Butler, British Chancellor of the Exchequer, said in London today that there are signs of an upward trend in the United States economy which is vital to the expansion of world trade on a stable and sound basis.
Addressing the National Union of Manufacturers. Mr Butler said that rising production and standards of living would mean more imports and pay for them “We shall need extra exports, year by year. “We expect to get those extra exports, because we are not alone in this idea of expansion. World production is rising and world trade is increasing.” Mr Butler went on: “If we work together in this country, we can show that it does not need rigid controls and detailed central plans for the production of everything from paper-clips to bootlaces, to double our production and standard of living in the next quarter of a century.” Mr Butler concluded: “If we raise exports, productivity, and investment, we shall achieve it.” Mr Butler also made these points: (1) British factories are now turning out goods at a rate 6| per cent, faster than last year. More people than ever are at work and unemployment is very low. From March until now retail prices have risen less than 3 per cent. This is expansion without inflation.
(2) Exports have risen. In the first nine months of this year they were £117,000,000 higher than in the first nine months of last year.
(3) The Country is not yet investing enough.
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Bibliographic details
Press, Volume XC, Issue 27501, 8 November 1954, Page 8
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260Upward Trend In U.S. Economy Press, Volume XC, Issue 27501, 8 November 1954, Page 8
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