U.K. WOOL TEXTILES
Forecast on recession (N.Z. Press Assn. —Copyright) LONDON, March 25. A gradual easing in the recession of the wool textile industry by the autumn was forecast by Mr J. Alan Clough, chairman of the Wool Textile Delegation, at Bradford.
He told the industry’s annual press conference that much would depend on a change in the international economic climate led by the United States, and on the success of the British Government in dealing with the price and wages spiral. Mr Clough said: “Our contribution to the balance of payments in terms of export earnings and import saving amounted last year to £230 million.
In spite of the world recession, our exporters earned £l4B million, compared with £157 million in 1969, and 1 think that was a tremendous achievement in such difficult circumstances.” British wool textiles were still “top of the pops” in the consumer goods markets of the world. He said: “I personally have no fears about their future so long as we can avoid the twin perils of protectionism and subsidies.”
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Press, Volume CXI, Issue 32566, 27 March 1971, Page 21
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175U.K. WOOL TEXTILES Press, Volume CXI, Issue 32566, 27 March 1971, Page 21
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