BRITAIN’S HARDSHIPS

Ashburton Guardian, Volume 67, Issue 220, 30 June 1947, Page 6

BRITAIN’S HARDSHIPS

LOSS OF INVESTMENTS EFFECT OF SOCIALIST POLICY (Special to (he “Guardian”) WELLINGTON, June 28 Life for the British people Avas still rigorous and austere, said Mr W. J. Sim, president of the National Party, in a reference to the British political situation in his presidential address at the opening of the Party Conference today. i

The Socialist Government, two years ago so lavish with its promises of amelioration, had proceeded ruthlessly with the nationalising of great enterprises, but. the only apparent result to date was that Britons in every walk of life had to do with less and less, when they might reasonably have expected improvement. After a winter of grievous hardship caused by fuel restrictions unparalleled in British history (as those lately in force in New Zealand were also unparalleled here) our English kinsfolk Avere now undergoing privations which not even a conquered people had been obliged to suffer in any .previous Avars.

“In some quarters,” said Mr Sim, “it is the habit to disparage the efforts of businessmen in developing trade, but the lesson uoav comes home that the free fIoAV of trade is intimately associated with the general standard of living. Britain’s economic difficulties are avoll known and are largely caused by the loss of .the great overseas investments which she held before the war." “Those investments and resources had been built up by the commercial .genius of the’British people, and they enabled Britain to buy anywhere in the markets of the world. To-day, the value of the resources created by businessmen and great shipping concerns under a system of private enterprise, are only now fully appreciated when the overseas Avealtli which they created is no longer at the disposal of their country. And everybody suffers, including the ‘common man.’ ” •