Abstract

Britain: Hope Deferred
Hutchison, Keith | April 16, 1949 issue

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This article focuses on the budget of Great Britain presented to the Parliament on April 6, 1949. Expectations that the budget would include some tax relief had been based on both political and financial calculations. Since a general election is due within fifteen months, some people thought government might follow distinguished precedents and produce a budget with popular appeal. It has to be assumed that total national income cannot be importantly increased beyond a certain estimate, which allows for some rise in productivity, since the available labor force in Britain is almost fully employed.

See Also:

BUDGET; ECONOMIC policy; LABOR productivity; LABOR supply; ELECTIONS; GREAT Britain
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