U.K. Likely To Extend Cuts Of Dollar Imports
LONDON, Sept. 4
Treasury experts have given a warning that cuts in British dollar imports beyond the 25 per cent reduction announced by Sir Stafford Cripps in the House of Commons will result in an increase in unemployment and a general fall in living standards, says the Daily Telegraph’s political correspondent.
Experts have been studying ways and means by which a 25 per cent saving could be made. Their report is being made available to the Ministers.
The report points out that while it might be possible to reduce dollar purchases by a quarter by obtaining imports from other sources, this would cause unemployment in several industries. In some cases it was unlikely that other sources of supply could be found. In addition, it was now'expected that further cuts would have to be made because of the reductions in Marshall Aid. Much of the raw material from dollar sources was paid for by Marshall Aid funds.
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Gisborne Herald, Volume LXXVI, Issue 23043, 6 September 1949, Page 5
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164U.K. Likely To Extend Cuts Of Dollar Imports Gisborne Herald, Volume LXXVI, Issue 23043, 6 September 1949, Page 5
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