SLUMP CONDITIONS

Greymouth Evening Star, 23 November 1946, Page 8

SLUMP CONDITIONS

NECESSARY TO BE ON GUARD

LONDON, November 21. An official Opposition amendment to the King’s address in the House of Commons was defeated by 333 votes to 188. Mr W. S. Morrison, winding up for the Opposition, declared that the Opposition would continue to oppose State monopoly, but would do its best to aid the drive for increased production. Sir Stafford Cripps, president oi the Board of Trade, winding up for the Government, said that few, if any, countries could show a better record of post-war recovery than Britain. The Government was facing a colossal job. It would take years, not a few months, to make good the deficiencies and the destruction caused by six years of war and to restore the pre-war standard of living. Sir Stafford Cripps said that controls must be continued pro tern, but they would be constantly under attention and re-examined to see if they could be simplified or removed in the light of changing world conditions. “We must b'e on our guard for the appearance of slump conditions, especially from, abroad,” said Sir Stafford Cripps. “Do not let us live in a fool’s paradise, thinking that no adverse conditions can develop. Let us rather be fully aware of the dangers so that we can forestall their evil effect.” He said that the Governments comprehensive Agriculture Bill would lay down methods ..for promoting efficiency' and'' productivity. Guaranteed prices and assured markets would be suplemented by measures for assuring that the land was not only farmed but also properly managed and equipped.