CONVERTIBLE STERLING
No Reversal By Labour Party (N.Z. Press Association—Copyright/ (Rec. 9 p.m.) LONDON, Jan., 1. The Labour Party leader, Mr Hugh Gaitskell, said last night that the Government’s decision to make sterling convertible would not be reversed by a Labour Government should it come to power after the next election. He said he believed the Government’s decision was a mistake, but his party would have to do its best to make it work. It opposed the step because full employment and industrial expansion would be made more difficult to maintain. Mr Gaitskell said that the danger was that a run on the £ would be more difficult to meet in new circumstances if external conditions turned against Britain.
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Bibliographic details
Press, Volume XCVIII, Issue 28784, 3 January 1959, Page 14
Word Count
118CONVERTIBLE STERLING Press, Volume XCVIII, Issue 28784, 3 January 1959, Page 14
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