Cripps Critical Of Lag In British Output

Greymouth Evening Star, 11 October 1947, Page 5

Cripps Critical Of Lag In British Output

(Rec. 10.30 a.m.) LONDON, Oct. 10

“We are not at present-producing enough to enable us to live,” said Sir Stafford Cripps, speaking at ; Buxton. “We have exhausted our capacity to borrow. We are already using up our limited reserves. When . they have gone, we must either starve or beg our bread, unless by that time we have the production and can sell it in the right markets abroad.” He added that Britain had' not yet instilled into her older -industries that spirit of scientific inquiry which was so marked a characteristic of the new engineering industries and of all industry in countries like America. “We have not shown ourselves very quick to adopt new methods as have some of our competitors,” he said. “Since we were'pioneers of machine production, we have tended to discount the value- of the very techniques which created us as an industrial nation. We are approaching, if we have not buyers’ market conditions, which make-it more difficult to sell our goods overseas. Price will determine whether we can .sell the- . required amount of exports abroad.” .