CAPITAL FOR INDUSTRY
Effect On Cost Of Living
“It would be most unfortunate if after a period when moderation in price increases is showing itself, a further stepped-up rate of capital development sparked off a further wave of price Inflation,” says the chairman of the Consumer Council (Mr G. E. Wood) in a paper to be presented to the 1960 Industrial Development Conference. “All the sacrifices in an inflationary period will b e borne by those on relatively fixed incomes"
Mr Wood says that if a higher rate of capital development is consciously planned and the cost of such development is allowed to work itself out by its inflationary effects on prices, there will be great inequality in the bearing of this burden as between different sections of the community.
“However, increased capital development and the maintenance or perhaps even imnrovement of current living standards for all are not incompatible, provided that rationalisation is planned not only in the use of capital resources, but also in the distributive and pricing processes,” he says.
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Bibliographic details
Press, Volume XCIX, Issue 29224, 7 June 1960, Page 19
Word Count
173CAPITAL FOR INDUSTRY Press, Volume XCIX, Issue 29224, 7 June 1960, Page 19
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