British Export Target

Grey River Argus, 16 April 1948, Page 3

British Export Target

LONDON, April 15 The President of the board of Trade, Mr Harold Wils.on) stated that the Government had lowered the export target for 1948 from IbO per cent of the 1938 volume, to 150 per cent., because of the steel shortage. Sonip of the original engineering targets were unrealistic in the light, of steel supplies likely to oe avaiiaole. ji The possibility of increasing other exports was limited by Home needs or by saturation of foreign markets. He was not confident that the existing target for piece goods could be raised. “There is a world swing oi fashions away from tweeds, and from woollen piece gooes • generally,” he said. • Restrictions on imports in other countries hampered their exports. Ho said: “Many ot these restrictions arise from a serious foreign exchange position, and for this reason it is only with the greatest dmiculty we can secure any relaxation of them. We have made representations wherever possible to foreign Governments to remove or relax, these restrictions, but our main hope, of securing any relaxation this year is jn our bilateral agreements. The present conditions or the country restrictive practices could not be afforded by either employers or workers in British industry. “The nation cannot now afford the restrictive practices which grew up in many industries before the war. even if we could afrord them then,” he said. “Whatever fears of unemployment may have*.led to the practices of restricting' production—and there v/as every reason for these fears before the war—there is no po'ssible justification for them to-day. “Fears of unemployment whicii underline new methods ought now to be a thing-of-the past. At this time to lose a single day through strikes is utterly condemned.” Britain’s first job in 1948, continued Mr Wilson, was -to work tov/arus achieving a proper balance pf payments. American aid, even on the scale indicated . under the Marshal Plan..would not solve Britain’s longterm difficulties. It would, however, give Britain a breathing space and provide a real hope of closer co-op-eration in Europe. AMERICAN AID Emphasising that Britain was not. merely waiting for Marshall aid, Mr Wilson said that since the end of tne war 2300 new factories or extensions had been completed and about 1000 new factories, which would provide employment for another' 100,000 people, were in course of construction. Mr Wilson added that Britain’s exports for March were the highest ever known, apart from one month in 1920, but that imports were also nearly a record and the balance o-* payments grew worse. The provisional figure for exports in March, he said, was £120,000,000, which was not far short of 135 per cent., of the 1938 figure, but imports were £178,000,000, the highest for several months. The -adverse Srdance of trade remained the biggest problem ahead.

Britain would stand or fall during the coming year on the success or failure of the drive for increased textile production and increased exports of textiles.