SOUTH AFRICA MAY RESTRICT HER IMPORTS

Grey River Argus, 11 August 1948, Page 3

SOUTH AFRICA MAY RESTRICT HER IMPORTS

CAPE TOWN, Aug. 9. The Union Finance Minister, Mr N. C. Havenga, introducing the Budget in Parliament announced a surplus of £8,900,000. He said: “The recent political changes in the Union seem to have caused a good deal of quite unjustifiable uneasiness. I will continue to pursue policies of sound finance and economic development. It will remain by endeavour to maintain the strength and credit of our country and preserve an equitable balance among the various interests that go to make up the economic life of our people.” Both Britain and South Africa, he said, desired that the Union should remain within the sterling area.

He added that he could not give an assurance that South Africa’s freedom from import restrictions would last indefinitely. South Africa must find dollars ter pay for the heavy United States import, or do without. The latter alternative would inevitably mean import control and would affect trade with other countries, with which the Union had an unfavourable balance of trade.