Britain Will Hare To Increase Exports

Northern Advocate, 25 August 1945, Page 6

Britain Will Hare To Increase Exports

(Rec, 3 p,m.) LONDON, Aug. 24. The abrupt ending of Lend-Lease will directly result in cuts in food, clothing, tobacco, petrol and luxury goods, for example, refrigerators and other household appliances, says the “Daily Express,’’ political correspondent. The decision has compelled the Chancellor of the Exchequer (Dr. Dalton) to order all Government departments to re-examine the import and export policy. Britain—since her trade balance will have to be corrected—will have drastically to cut down imports from the United States and intensify the drive for export markets, which means that many things which might have been .available for home use will have to be exported. This means further cuts for Britain. British trade will have to be directed to the sterling area in order to conserve the dollar sup-

ply. The visit by Lord Halifax and Lord Keynes to President Truman will aim at tapering off the agreement whereby Lend-Lease will gradually cease. It is the abrupt ending which has caused confusion. Cabinet knew nothing' of the decision to drop .LendLease until yesterday. Cabinet ordered a complete survey of Britain’s trade and financial policy. Some of the domestic programme may have to be curtailed or postponed for a time and the need to save dollars may mean cutting imports of house parts and fittings from the dollar area with a resulting hold-up in the housing programme. Lord Halifax, therefore, has been told to press for a swift decision by Mr Truman’s Government.