~
OUT TO DELO TELVO 153 OF 25/10 CYPNER/CAT A
COPENHAGEN
VIENNA
HELSINKI
BER IF
LI SB04
DUBLIN
TOKYO
HONG KONG
CANBERRA
WELLINGTON
DELHI
RAWALPINDI
KINGSTON
MALTA
PRETORIA
ALL IMMEDIATE (EXCEPT HONG KONG)
Milanka
UNIT 1
WALTERS
Ale 3 of the Tili totta, for information
વ
for information & I think it would look rather odd f We were to add another
1
allter x A para 3. Athen The will not rad too happulen
KH.K.
MAX
21/10
LAS
(24). (26
St-and
hauve cast by nothing to
add
our dependent- temiliaries" to
EFTA + EIRE
$1- Typical
of the Fadlem, flat-footed approach
nowadays.
Lon
24/10
CYPHER/CAT A
IMMEDIATE FOREIGN AND COMMONWEALTH OFFICE
TELEGRAM NUMBER 153
TO OSLO
20 OCTOBER 1969
SECRET.
NEUTRAL/FRAME,
ADDRESSED TO OSLO TELEGRAM NUMBER 153 OF 20 OCTOBER AND TO
COPENHAGEN STOCKHOLM VIENNA DERNE LISBON HELSINKI DUBLIN PARIS
BONN ROME BRUSSELS THE HAGUE WASHINGTON OTTAWA TOKYO CANBERRA
WELLINGTON NEW DELHI RAWALPINDI KINGSTON VALLETTA PRETORIA
UKMIS GENEVA UKDEL OECD UXDEL EEC REPEATED FOR INFORMATION TO BOVERNOR HONG KONG.
M.I.P.T.
CHANCELLOR'S STATEMENT WILL BE ON FOLLOWING LINES:
BEGINS.
WE HAVE SEEN IN RECENT MONTHS A DRAMATIC IMPROVEMENT IN OUR
ECONOMIC STRENGTH. AS A RESULT OF THE MEASURES TAKEN SINCE
NOVEMBER, 1967 THE BALANCE OF PAYMENTS PASSED INTO SURPLUS IN THE EARLY MONTHS OF THIS YEAR, AND HAS REMAINED STRONGLY IN SURPLUS
SINCE THEN, UNTIL RECENTLY THE MAIN FACTOR IN THIS TURN-ROUND HAS BEEN THE VERY HEALTHY STATE OF THE INVISIBLE ACCOUNT, BUT IN
RECENT MONTHS THE VISIBLE ACCOUNT HAS ALSO PASSED INTO SURPLUS.
WE HAVE SOME REASON THEREFORE FOR MODERATE OPTIMISM ABOUT OUR
PROGRESS TOWARDS OUR ECONOMIC OBJECTIVES, AND IN PARTICULAR TOWARDS THE OBJECTIVE OF A POUNDS 308 MILLION SURPLUS BY APRIL NEXT
YEAR.
2. BUT THIS DOES NOT MEAN THE TIME HAS COME TO RELAX. 1 HAVE
ALWAYS EMPHASISED THAT RECOVERY WOULD TAKE AT LEAST TWO YEARS, AND THAT EVEN THEN IT WILL BE NECESSARY TO ENSURE THAT IT IS
No comments yet.
Private notes are available after approval.