In a memorandum for trustees in 1968, Professor R.F. Henderson explored the need for budgetary action given the economic trends prevailing at the time.
In a speech given to CEDA’s The place of the budget as the major weapon of economic policy seminar, Professor Henderson, concerned about inflationary pressures, argued for mild budgetary restraint, either by cutting expenditure or raising revenue, suggesting that higher taxes would be the more realistic option in the short term.
The place of the budget as the major weapon of economic policy seminar. pp. 3-7
