BRITISH TRADE

Hawera Star, Volume XLV, 9 December 1925, Page 5

BRITISH TRADE

BETTER THAN REPORTED.

ENGLISH VISITOR’S VIEWS

READJUSTING FISCAL POLICY

(By Telegraph. —Special to The Star.) WELLINGTON, Dec. S.

‘AYrong conclusions have been formed about- the condition of British industries,” states Mr. David Nazel, a British business man and m former London County Councillor, who is paying a holiday visit to New Zealand. ‘‘l left England on September 25,” he said. “At that time there were , decided indications of an improvement in trade. Since then I see by the cables that the unemployment figures have diminished considerably.. I was surprised to see reports in the Australian liress as to Hopeless conditions in England. Many of the Australians who have visited England have arrived at wrong conclusions in regard to conditions, probably due. to- press statements, which arc inclined, often in the public interest,, to bo exaggerated. It is true that employment conditions in England are not- good, but this is due to a complete change of trade relationships witli the Dominions and foreign countries. The loss of our export trade has meant an increase in. unemployment in England, and new methods will be;necessary before conditions can become liorinal. I realise that our ’Dominions, and' especially Australia, which I have just visited, are manufacturing their own requirements more and more, and the same applies to foreign countries. England must therefore readjust her 'fiscal policy to meet the new needs. DEARTH OF INVESTMENTS. “The financial- position in England is perfectly sound, and the only difficulty is to. find employment for idle money. English, investors, instead of investing funds in British .manufacturing companies or in private concerns, are now obliged to seek overseas outlets. As soon as trade relationships in the Old Country improve, money will be available for all purposes, and for all extensions that'may be required for manufacturing and other plants! It has been stated that the British manufacturer has lost- the old pioneer spirit of developing overseas markets, partly owing to unsatisfactory conditions in the Old Country, hut this statement is quite incorrect. Firms are as keen as ever to get overseas business. The only trouble is that there are too many commercial travellers representing British manufacturer's going out to overseas, markets to seek the limited business which is avail, able. English motor-car manufacturers are now taking steps to work along mass production lines in order to meetthe demands for a greater output, and I noticed that- in Australia this year there was a larger proportion of Brit‘isli cars imported than in former vears.”