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.
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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.
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