CALL TO STABILISE POUND
Received Thursdav 7 p.tn. LONDON, Dec. 11. The British 'hanibers of Commerce have asked that ell'orts be made to stabilise the pound sterling and increase production by t:ix uiodi lications, in a letter to Mr. Dtthon regarding the fortheoniing Dudget The letter said: "The intivhasing power of the pound is not more than I Is eompared with 1989 and is steadilv falling. A continuance of tliis tendem-y will inevitablv leail to intiation. It is desirable that the \alue bf the pound at least be stabilised at the jnesent level otherwise the social services are dootned to failu re. " The letter suggets: Firstly, that all Govemment services be ruthiessly reviewed with the objeet of pro'.noting a nearer balanee between (lovernntent expenditure and the nation s productivity. Secondly, the scrapping of all Controls not absolutely vital. Thirdlv, redm-tion of direct taxation approxiniating £150, 000, 000 to £500,000,000 relief in a full year. Fourthly, the eancellafion of pi'ollts d excess prolits taxes simultaiicously.
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https://paperspast.natlib.govt.nz/newspapers/CHRONL19461213.2.21
Bibliographic details
Chronicle (Levin), 13 December 1946, Page 5
Word Count
164CALL TO STABILISE POUND Chronicle (Levin), 13 December 1946, Page 5
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