No Prospect Of Slump In Britain
Received Thursday, 10.20 a.m. LONDON, July 14. There is no prospect of a general slump in Britain and the . reduction of the demand for consumer goods in Britain did not : mean that there was going to be mass unemployment, said the Chancellor of the Exchequer, Sir Stafford Cripps, today. How- i ever, if Britain could not maintain her exports at a sufficiently 1 high level to pay for the already restricted imports of raw materials, then whole factories would have to close down and 3 hundreds of thousands would be unemployed. It would be another matter if the present mild slackening i of the consumer demand was the first beginning of a slump in . the investments field, but Britain had the capacity to stop that \ process before it went too far.
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Chronicle (Levin), 15 July 1948, Page 5
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137No Prospect Of Slump In Britain Chronicle (Levin), 15 July 1948, Page 5
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