Sir Anthony Eden called eleven members of his Tory Cabinet back from vacation for a special session last week. The main speaker was Chancellor of the Exchequer Richard A. Butler, and his topic was trouble.
"Rab" Butler's bad news was that the British boom is faltering. Production is higher than it has ever been, but consumption is higher still, and the island is not paying its way. The evidence, as Butler laid it before the Cabinet:
¶ An adverse trade balance of $1.5 billion during the first seven months of 1955. Exports are up 4%, imports are up 14%.
¶ Persistent labor...