For 31 years, British tourists, never exactly spendthrifts, have been regarded as Europe's poor relations. In an effort to cut Britain's trade deficit the Labor government limited them to taking no more than £50 ($120) in foreign currency abroad annually. In a surprise move last week, however, the government abolished the limit. From now on, British travelers will be able to spend £300 per trip and take as many trips each year as they wish.
The announcement by Chancellor of the Exchequer Roy Jenkins followed a spate of encouraging indicators. After running a $600 million trade deficit in 1968, Britain last...
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