Abstract
The first section of this chapter provides a general appraisal of the state of the economy before the Budget, and of the likely course of national output for the rest of the year. The second section discusses the consequences for two crucial sectors-first, for employment and unemployment, and secondly, for the balance of payments. The third section gives a detailed description of the main items of national expenditure, and a justification of the assumptions made about their future course.
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