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...housing and municipal programs of all kinds were slashed. No sector of the British economy was untouched. To raise revenues, North Sea oil taxes were hiked 10% for oil companies, adding to the $1.1 billion already gushing into the treasury's coffers as high-grade crude comes fully onstream. Alas for the ordinary Briton, new excise taxes raised the price of his beloved beer (to 95? a pint from 91?) as well as those of wine, whisky, cigarettes, automobiles and gasoline, which costs $2.42 per gal., up from...
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