SPENDING U.S. LOAN
NEARLY SIXTH GONE LITTLE FOR~MATERIALS LONDON. Jan. 29. In a statement included in Hansard and circulated to-day the Chancellor of the Exchequer, Mr Hugh Dalton, reveals that Britain has so far spent nearly a sixth of the American loan and that, of £124,000,000 spent in the United States during 1946, one-third was used to pay for tobacco, a fourth for food, and only 11 per cent on raw materials and 5 per cent on new machinery for re-equipping British factories. It is pointed out that tobacco payments fall heavy, as tobacco is a seasonal crop and that all purchases of oil represented 12 per cent of the total expenditure and films 7 per cent. The sum of £12.000,000 was spent on dried eggs and nearly £7.775.000 was spent on cereals.
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Gisborne Herald, Volume LXXIV, Issue 22243, 31 January 1947, Page 2
Word Count
133SPENDING U.S. LOAN Gisborne Herald, Volume LXXIV, Issue 22243, 31 January 1947, Page 2
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