BIG THINGS DOING

NZ Truth, Issue 1262, 6 February 1930, Page 18

BIG THINGS DOING

Motor Trade Gets £1,000,000

DECENTLY there have been big * things doing- iri British motor trade circles. Following' on negotiations between Messrs. Rootes, Ltd.,, 'and Sir George May, secretary of the Prudential Assurance Company m London, the latter concern has decided to invest £1,000,000 m the development of the motor industry. As an aftermath of this important step by the Prudential . Assurance Company, an industry committee has been selected for the purpose of submitting from time to time proposals to the Government. : Known m British motor production as the "Big Three," Sir William Morris, Governor of Morris Motors, . Ltd., Sir Herbert Austin, head of the Austin Motor Company., and Mr. W. H. Bullock, managing director of Singers, Ltd., have been selected to form this committee. ' ' One of the first moves made by this body was to see Mr. J. H. "Thomas, Mfnister of Unemployment, and to discuss with him the whole industrial prospect with a special eye to Britain's industrial future. , ; ' The immediate result is that the motor trade m Great Britain will make an agreement between all sides of the industry to bring about: — (1.) Comparatively rapid and progressive absorption of 100,000 British unemployed m many trades. (2.) The doubling of the British motor export market now valued at £7,000,000 this year. ; ,; (3.) The ..capture of the Empire ■markets m ' "motors', estimated to be worth at present £60,000,000 and! £115,000,000 m five years' time. (4.) In two years the increase m the employment of labor m British motor factories from the present 250,000 to at least 500,000 men and women.