The Guardian And Evening Star, with which is in corporated the West Coast Times. THURSDAY, MAY 17. 1928.

Hokitika Guardian, 17 May 1928, Page 2

The Guardian And Evening Star, with which is in corporated the West Coast Times. THURSDAY, MAY 17. 1928.

j BRITAIN'S INDUSTRIAL FUTURE j Evi:itv year the Liberal Party of Great Britain organises and conducts a SuniI mor School, at which ' .social, ocona- ; mie, and political problems are discussed. l)i consequence of .such di.s- ---! Missions, it was felt, that a thorough investigation of these problems was necessary in order to provide for the formulation of a policy to deal with them Some two years ago a .strong executive committee of thirteen members was sot up to this end, together with a number of special committees comprising in all an additional 25 members, while a large number of porVsons “qualified by this experience to speak with authority”- gave evidence, supplied information, wrote reports, or assisted with advice. “Britain’s Industrial Future,” the report of the Li-hcii-al rndustiiial Inquiry, the fruits of the joint effort of many of the leading economists in Great Britain, and it is no exaggeration to describe it as on the whole the most comprehensive and valuable survey of the post-war economic problems of Great Britain yet presented. It is impossible to do more than briefly touch on a few outstanding points, since the -.mere summary of erm elusions covers 35 pages of the report. Britain’s share of the world’s trade has not been reduced, hut since world trade is smaller in volume, her exports have been appreciably reduced in absolute amount. In eonseqence, a prodigious volume of employment has resulted, concentrated mainly in the export industries. The percentage of unemployed workers since 1920 has only once been less than the maximum percentage of the previous 20 years. Conditions affecting certain export industries are not. likely to lie permanent, but certain industries, notably coal and cotton, are permanently threatened. At the same time, though population , has increased, there has been a decline ( in real annual savings of about one- ,

quarter. Nevertheless; tho problem is not so acute ns these facts taken alone would appear to suggest, for depression has been concentrated mainly in the basic export industries. In many directions there has been remarkable expansion. New industries have sprung up, or. grown from small beginnings. The average standard of living of the mass of the population has improved,, though not all groups of workers arc better off than before tho war. The general findings of the report may he stated briefly as follows, though any short summary will necessarily be? guilty of serious errors of omission. It should he clearly recognised that many export industries are never likely to regain their old position of importance, and the alleviation of unemployment in such industries necessitates an ambitious policy of national development in other directions, though an increase, in productive efficiency in such industries themselves is also imperative. Progress is hindered by many factors, chief among which are friction and mistrust between employers and employees. inefficiency in the machinery for the investment of the national savings in the directions most cronnmieally desirable, an unevenly distributed and heavy burden ol local body rates, and imperfections in the system of education mid vocational training and guidance. 'lhe report considers wage reductions and increased tariffs as means of facilitating recovery, and rejects them as inexpedient or unsound. Nor hat it “attempted to emulate the simple comprehensiveness wilh which extremists of the left and right slim up (these) problems in a single phase—idling us either that the State should cease to meddle with industry, or that the capitalist system should he replaced by ‘Socialism.’ ” The inquiry places an ambitious .scheme ol national development in the forefront of its programme. Very wisely, “economy’’ in national affairs is regarded, not as the curtailment of public expend t lire, but as the more efficient utilisation of the national resources. The present large volume of unemployment is a national waste, a.nd idle labour should he utilised for the purposes ol' reconditioning the nation’s capital equipment. The annual saving of £500,000,000 shows that ample capital is available for this purpose. Improved roads and housing, the development of electrical schemes, and the improvement of waterways and docks are among the condition; considered necessary. Tt is suggested that a Committee of National Development: bo set up to formulate a con.sisleut and comprehensive policy for the development of national resonates. Development schemes y hon'd be so distributed throughout time as to balance, as iar as possible, the variation in unemployment consequent .on the trade cycle (Incidentally, it might he mentioned that the lleseaivh tnniniiti.ee of the Auckland Economic Society formulated a similar proposal in regard lo New Zealand.) Method:; of finance should he arranged by a Hoard of National Investment. This hoard would also devise ichemes for the proper collection and marshalling of email savings. In order both to utilising properly the rising generation in tho economic life of the community and providing the basis for effective citizenship. the inquiry suggests inter alia the raising of the school age Lo sixteen, methods of vocational training, and the limitation of working hours. The eommiir.ee has oovoiv I every important aspect of the economic life of the nation. It scorns probable that many of its proposals are too radical and drastic to be accepted by this generation ; hut as an indication of the lines along which national development should proceed, and as a means of educating the voter, and, move especially, the politician, they are of very great value. |