Inflation
Sir, —Your correspondents “Anglice” and “Invisible Transactions” are still barking (or chattering) up the wrong tree. “Steady does it" was the answer given to those who urged the National Government in 1960, after Labour had granted to many import licences in election year, to adopt the crash tactics of 1958. It applied only to correcting the exchange crisis of that time. “Invisible Transaction,” in praising Labour’s stabilisation policy omitted to say that the Labour Government held on to millions of pounds of primary producer’s earnings, put an 1.0. U in the account and bolstered their budgets with them Farmers’ money £4 million a year went towards food subsidies. Costs certainly rose overseas but the effects here were kept down by keeping our shops empty. If your correspondent wants a return to this sort of stabilisation then his sense of “fair play” is invisible too!—Yours, etc., GRATEFUL. January 23, 1968.
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Bibliographic details
Press, Volume CVIII, Issue 31586, 25 January 1968, Page 10
Word Count
150Inflation Press, Volume CVIII, Issue 31586, 25 January 1968, Page 10
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