NOT NATIONALISATION

Evening Post, Volume CIX, Issue 125, 30 May 1930, Page 9

NOT NATIONALISATION

NOR EXPANSION OF EXPORTS

MOSLEY ON MAKESHIFTS

United Press Association—By Electric Tele-

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LONDON, 28th May

Cntinuing the debate, Sir Oswald Moslcy' said that in order to grapple with unemployment it was necessary to have a revolution in the machinery of Government. The Government had bound itself largely to nationalisation, but this would not cure the evil nor would expansion of exports. The money which the Government was now providing to meet unemployment was scarcely more than the programme of the late Conservative Government provided..

/Mr. Lloyd George congratulated Sir Oswald Mosley on his powerful speech. The Chancellor of the Exchequer need not be afraid about his conversion loan. If the country were engaged in militaryl operations it could raise thousands of millions.' Indeed, the country was now spending a hundred millions per year on unemployment.' Ho agreed that the problem should not be treated as a party matter. Mr. Winston Churchill favoured a wisely extended policy of safeguarding or a tariff for revenue, particularly on the more lrighlv finished forms of Th'c real permanent hope of industry lay in reconstruction, reequipment, and rationalisation, which would make factories more efficient and give a fair chance in export markets. It would be sheer madness to raise two hundred millions for unemployment without first formulating definite schemes.

Mr. Baldwin's amendment was defeated by 270 votes to 241. When the division was taken, five Labour members—Messrs. J. Maxton, D. Kirkwood, A. F. Brockway, G. Buchanan, and the Bey. C. Stephen—remained seated. Most of the Liberals also abstained from voting. Tho majority of 29 "was just about what had been expected. The Government was never in any sense in danger during the debate. There is general agreement that Sir Oswald Mosley's speech was a personal triumph.