FINANCIAL PLAN

Waikato Times, Volume 106, Issue 22730, 4 October 1945, Page 5

FINANCIAL PLAN

CHANCELLOR’S AIM BUDGET ONE OF SERES BALANCED ECONOMY (By Tel.—Press A?sn.—Copyright) (Received Oct. 4, 12.15 p.m.) LONDON, Oct. 3 The Chancellor of the Exchequer, Dr. Hugh Dalton, partially revealed his financial plan for Britain at a Lord Mayor’s dinner to city bankers and merchants. He said he aimed at making his coming budget fit into a series. “ I hope to do this in such a way that we can follow through the years immediately ahead a consistent, developing financial plan which will assist our industry and trade and bring benefits in due proportion to all sections of the nation,” he said. Dr. Dalton revealed that a bill to nationalise the Bank of England would be published next week. Discussing Britain’s recovery, he said: “ Great effort is required to bring British imports and exports into proper balance. Until this is done we run great risks, both in our home economy and in our overseas trading relations. We must therefore take every step to increase our exports to all markets throughout the world as rapidly as and on the greatest scale possible. “ We must likewise take steps to restrict our imports, giving of course high priority to essential supplies of food and raw materials, until our trade balance has been securely regained. We must, for example, continue to suffer, perhaps for some considerable time, from having daily newspapers of only four pages. “ I know that the British, who have stood so much, will prefer to suffer austerities a little longer if that be the price we have to pay for a prosperous, self-reliant, self-re-specting future.”