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We must do all we can over the whole range of the sterling area's balance of payments. But I am certain that in the next few months much the largest part of this action to fill the gap must come from fitting our import programme to our expected earnings.
8.
I would like to discuss the situation with my colleagues before I make definite proposals as to the size of the import cuts which we should make.
Treasury Chambers, S.W.1.
JUNE 16, 1952.
R.A.B.
:
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