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Bridgeport Telegram in Bridgeport, Connecticut

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Newspaper

Bridgeport Telegram

Location

Bridgeport, Connecticut, United States of America

Date

Oct 24, 1947

Page

11

Britain bans U U S tobacco imports in austerity plan

London Oct 28 Britain unveils a new economic crisis plan cutting food and fuel purchases, halting tobacco imports from the United States, and reducing naval manpower. Sir Stafford Cripps and A V Alexander outline measures to curb home building, slash gold reserves, and push for dollar earnings while warning of continued deficits through 1948.

London Britain United States House of Commons Stafford Cripps A. V. Alexander Sterling Alexander Cripps Economica Labor George VI Ankeds Viscount Hinchingbrooke U. S Canada Telle

Budget Cuts Target Rations and Gold Reserve Policy

The present 10 ounces bacon per week stays. meat rations remain at 20 cents weekly despite a prior cut from 24 cents. The economy minister warned that while Plan aid could help, Britain must aid itself. Herald notes a gold reserve cut to 1.08 billion pounds would leave a minimal buffer for the sterling area.

Economica Marshall Plan

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