GREAT BRITAIN: Slipping into the Red

Britain's newly found boom could turn to bust. That was the clear implication of a series of drastic measures announced last week to the House of Commons by Tory Chancellor of the Exchequer Richard A. Butler. Amid jeers from the Labor benches and gasps from the Tories, Butler warned that Britain, which earned a surplus of $560 million last year, is slipping back into the red. Inflation threatens, the dollar gap is widening, sterling is depressed.

Ordinary Britons were bewildered, for all around were the Austins and Jaguars, the TV sets, and choice...

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