VICTORY IN SIGHT

Wairarapa Times-Age, 18 November 1943, Page 4

VICTORY IN SIGHT

BUT NEED FOR SAVINGS UNDIMINISHED BRITISH CHANCELLOR’S SURVEY CONTINUING RESTRICTIONS ON CONSUMPTION (British Official Wireless.) (Received This Day, 9.50 a.m.) RUGBY, November 17; “Victory is in sight,” said the Chancellor of the Exchequer (Sir John Anderson.), addressing a War Saving assembly in. London. “The enemy has no way of escape from a crushing defeat, pror yicled the power of the United Nations is fully brought, to bear on him, not only on the field of battle, but also in the economic front, behind the battlefield.” That did not. mean that relaxation was possible, Sir J. Anderson continued. The nation’s war effort had Ito be maintained and if possible increased. Regarding the continuance of the War Savings movement after the war, .the Chancellor said: “Let. me assure you in the strongest terms that a voluntary, savings organisation will be indispensable after the war, and. particularly in the difficult transition, period when we shall be passing from a war to a peace economy. You are all aware of what are likely to be the main features of that, period. The repair of war damage and reconstruction of industry must be a first charge on resources, so that it will take time to provide an appreciable increase in the volume of means available for private consumption. That will mean a continuation of restraint in expenditure. Even when those first duties have been provided for, and. a more liberal scale of consumption can be permitted, capital investment in. the development of the country will still require large volumes of savings of aili kinds to advance it.”