NO ELECTION THIS YEAR

Chronicle (Levin), 14 October 1949, Page 5

NO ELECTION THIS YEAR

(N.Z.P.A

r -Reuter .

British Cabinet's Decision Ends Speculation

Copyright)

Jrceceivea .briaay, 10 a.rn. LONDON, Oet. 13. It wa§ announeea froin No. 10 Dqwning Street that "having regard to the disturbing effects on trade and industry and on the national .effort by a continuance of speculations as to an early election, the Prime Minister thinks it right to inform the country of his decision not to advise his Majesty to dissolve Parliament this year." The statement of the Prime Minister, Mr. Attlee, that there woihd be no general election this year was issued after a two and a half hour Cabinet meeting, which dis^cugsed the case for and against an autumn election. Reuter's political correspondent understands that the actual decision not to dissolve Parliament this year was taken on Wednesday night by Mr. Attiee, Mr. Ernest Beyin and Mr. Herbert Morrison at'a meeting at No. 10 Downing Street. . It is aLso understood that Mr. A'ttlee had the overwhelming backing of all the Ministers present for his decision that there should be no autumn election. An influential factor in bringing the Ministers to this view has been that Transport House — the Labour Party's head- : quarters, which must do the work for an election — was aiso opposed j to any immediate election and con- I sidered that by the spring the party organisation would be at its strong- 1 est. The Ministers were also convinced that devaluation, far from causing unemployment and higher i general prices by the spring, would by then have proved to be on the whole a beneficial move. Impact On Stock Exchange. ' Reuter's financial correspondent says that the first impact on the London Stock Exchange of the an- I nouncement that there was to be 1 ho general election this year was to.harden Government securities and gold mining shares, but to soften British industrial shares. |