Business: Britain: Crisis

While Secretary Dillon pointed with pride, his British opposite number, Chancellor of the Exchequer Selwyn Lloyd, wrestled with a new economic crisis. At a luncheon of the Association of British Chambers of Commerce last week, Lloyd tacitly confessed that Britain could no longer afford the economic strain of behaving like a great power, must cut its military expenses and avoid increases in foreign aid. Said Lloyd grimly: "We have been trying to do too much . . . Since the war, we have spent money out of all proportion to our resources to hold the free line throughout the world."

Immediate cause...

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