• Short Summary

    Brighter prospects for British industry today (Friday, January 18) at last halted the disastrous slide in the value of the pound sterling against the United States dollar.

  • Description

    Brighter prospects for British industry today (Friday, January 18) at last halted the disastrous slide in the value of the pound sterling against the United States dollar. Earlier in the week, with widespread industrial action and short-time working leading to speculation of an imminent election, the pound had plunged to a record low against the dollar.

    Today, confidence in the pound immediately improved when the British government announced that full electricity supplies were being restored to the vital steel industry and that a four-day- work week -- instead of the current three-day week -- may soon be possible. But this will depend on the coal miners not stepping up industrial action beyond the present overtime ???.

    As a result of this improvement in the industrial situation, the likelihood of an imminent election receded. And the uncertainty that has clouded the money markets all week was partly relieved.

    But the shocks to the economy this week have also prompted long-term speculation about Britain's future as a manufacturing nation. Experts have been asking how long it will be before Britain, hard hit by the rising cost of raw materials, can pay her way again.

    To get an expert opinion on these long-term prospects, Visnews reporter William L. Ward today interviewed Mr. Vic Stevens, the Divisional Manager of the Foreign Exchange division of a large British bank:

  • Tags

  • Data

    Film ID:
    VLVAHRYVX2LDK41T8ZZE73FIC5IV
    Media URN:
    VLVAHRYVX2LDK41T8ZZE73FIC5IV
    Group:
    Reuters - Incuding Visnews
    Archive:
    Reuters
    Issue Date:
    18/01/1974
    Sound:
    Unknown
    HD Format:
    Available on request
    Stock:
    Colour
    Duration:
    00:01:40:00
    Time in/Out:
    /
    Canister:
    N/A

Comments (0)

We always welcome comments and more information about our films.
All posts are reactively checked. Libellous and abusive comments are forbidden.

Add your comment