GREAT BRITAIN: Austerity Again

"History alone," Britain's Chancellor of the Exchequer Harold Macmillan told the House of Commons last week, "will prove whether what we did was right or wrong," and, he added, "I believe that history will show that we have chosen aright." But as keeper of the national purse strings, it was doughty Harold's unpleasant duty to point out to his countrymen that whatever the verdict of history might be, it was bound to prove expensive.

Sir Anthony Eden's summary action in Egypt had already cost his nation from £35 million to £50 million. It had put the Suez Canal itself...

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