fair Measures’ Of Internal Stability
PARIS, Wed. (11.30 a.m.).—Western European Marshall Plan countries have attained “fair measures” of internal financial stability according to a 52-page report published today by experts of the Organisation of European Economic Cooperation. The report said the upward trend of prices had been arrested in most countries, production had considerably increased and ’harvest prospects for 1940 were good. There was, however, a rise in unemployment, a considerable import surplus and a set-back in exports to the dollar area.
The report said Britain and Scandinavian countries had made a determined effort to secure budget equilibrium arid the budgetary policy was now aimed at surpluses to finance investments.
Fairly extensive controls were still maintained, especially over investments.
“The policy of disinflation has not yet completely removed inflationary pressur’e which makes it necessary to maintain, physical controls and high taxation,” it said. “The trend of prices, and more particularly of wages, is still upwards rather than downwards, and labour is too immobile.”
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Northern Advocate, 27 October 1949, Page 5
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163fair Measures’ Of Internal Stability Northern Advocate, 27 October 1949, Page 5
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