RECORD SPENDING

Evening Star, Issue 25678, 29 December 1945, Page 6

RECORD SPENDING

BRITAIN'S BIG YEAR RETAILERS' SHELVES ALMOST BARE (Rec. 12.15 p.m.) LONDON, Dec. 28. The latest bank return suggests that, in spite of scarcities, actual spending by the British public may have reached record proportions this year, says the Australian Associated Press. London itself, during the past few months, has experienced an orgy of spending. Retail trade figures have shown abnormally heavy sales of household goods, and this is attributed largely to the influx of provincial crowds and demobilised soldiers eager to spend their war-time savings and post-war gratuities. In many lines of merchandise, notably men's wear, London retailers' shelves are now at their harest for several years, and in view of the Tecent decline in small savings, commentators are stressing the urgent need for increased production of goods, in. short supply. Many are wondering how the austerity to which the British people evidently have reconciled themselves will fit in with the drive for tourist traffic which the Travel Association is already launching with the aid of the American Chamber of Commerce. The need for foreign currencies is generally recognised, but the of visitors from ahroad for goods in short supplv will hardly be welcomed by the man in the street. Financial circles, nevertheless, are sceptical of the possibility of a 70 per cent, expansion in British exports. They agree that much of the deficit may be made good by the development of Britain as a tourist centre. Receipts from tourists before the war reached £30.000.000 in a good vear. There is confident expectation that this total can be raised to £100,000,000 when shipping is available.