COMMERCIAL RESTRICTIONS IN BRITAIN
Analysis By O.E.E.C. Britain had saved the pound, but at a cost to her industry, the 17-nation Organisation for European Economic Co-operation (0.E.E.C.) said in a report published last week. Caution would now have to mark the British Government’s economic policies, the O.E.E.C. recommended, as foreign exchange reserves were still far from adequate to meet the strains on sterling. The report added that Britain’s ability to relax present restraints would remain limited until the reserves could be rebuilt and the general imbalances in international payments reduced. Britain had a great need for a high level of investment, which would be discouraged unless restrictions like the 7 per cent. Bank Rate were relaxed. The British Government, O.E.E.C. said, must therefore try to permit some expansion of home demand, while keeping a vigilant eye on threats to the international position of sterling and price levels at home.
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Press, Volume XCVII, Issue 28474, 2 January 1958, Page 12
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149COMMERCIAL RESTRICTIONS IN BRITAIN Press, Volume XCVII, Issue 28474, 2 January 1958, Page 12
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