Foreign News: A New Outlook

Spring had come gently to Britain. Chestnuts were pushing out baby buds, and clotted cream was off the ration and was being spread thickly on Devonshire scones. Talk of peace (if not peace itself) was in the air. A queen would soon be crowned; the sound of hammering could be heard all over Mayfair as viewing stands went up.* Rab Butler's budget matched what seemed to be a common British resolve: to make the coronation year a gala occasion.

Britons did not fool themselves about their new budget. When it came down to plain shillings and pence, the tax cuts were small;...

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