TRADE EXPANSION

Dominion, Volume 31, Issue 142, 12 March 1938, Page 7 (Supplement)

TRADE EXPANSION

Steady Improvement In Britain "Dominion" Special Service—By Air Mail. London, February 19. Over a long period of economic uncertainties British trade has been buoyant, In 1937 there was steady expansion. Import values in that year were up by over 21 per cent, compared with 1936 and export values by over 18 per cent.; and the general improvement in British trade has not been in the nature of a boom. It has been gradual rather than spectacular, and has resulted in a steady growth in the spending power of the country. This is indicated by increased imports under the heading of food, while larger imports of raw material go to show that prosperity has been widespread.

The importation of manufactured metals has risen. This is attributed in part to the Government’s rearmament programme; but as was pointed out*, by Lord Horne, ex-Chancellor of the Exchequer and a recognized financial authority, there is “a great core of solid employment and business” behind that programme. It is indeed anticipated that the economic benefits therefrom will outlast the actual programme for the increase in employment and industrial output directly attributable to the rearmament programme Is but a small percentage of the total figures for employment and production. Ou the basis of the official figures it would appear that the rearmament programme has not added more than four per ceut. to the numbers already in emjjloyment.