BRITISH INDUSTRY

Hokitika Guardian, 15 October 1932, Page 6

BRITISH INDUSTRY

FIGHT WITH DEPRESSION. SUCCESS OF .STRUGGLE. WLiil'e agreeing that British trade was scill far from being in a' prosperous condition, New Zealand business men who returned in the liner Reinuera which arrived from London on Sunday morning, were unanimously of the opinion that certain industries were recovering fast and that some—. notably radio manufacturing— were forging ahead. They were impressed with the success of the Conversion Loan, the interest taken in the Ottawa Conlerenie, and Britain’s efforts to reduce industrial costs.

In the opinion of Mr H. S. Hart, of Wellington, who has returned after a six months’ business trip to England, British coinmerical men have looked more to Ottawa than has been the case with any of the Dominions. “Any suggestion of lack of genuine Imperial outlook lias become a tiling of the past,” he said. “Ottawa was boomed tremendously in England, where the feeling to-day is that the Dominions must do more for British producers than they have done in the past. It is felt also that the mere lowering f tariffs docs nc-fc constitute a full answer in return for what British has given the Dominions.” LITTLE OUTWARD EVIDENCE.

Mr Hart said he had been struck by the fact that the average visitor to England saw little evidence of the difficulties the country was passing through. Outwardly there were few signs of stagnation or distress. AlthoiiL'h it w- s true that the effects of ►he depression were still being felt severely, certain industries were recovering and doing well. The radio industry, in which some astounding protection figures were being quoted provided an example of this welcome trend.

The necessity of reducing industrial costs is recognised as fully in England as in New Zealand and the other Dominions, according to Mr P. J. Borthwick, a director of the firm of Thomas Borthwick and Sons Ltd., who has returned after a year’s absence. Mr Borthwick lived formerlly in Christchurch, but intends to make Masterton his future headquarters.

“Conditions, generally in England are letter,” said Mr Borthwick, “but the market outlook changes rapidly these days and it is difficult, or umvise to make definite statements. Naturally, industries such as the one with ,witch I am associated have much to itope for as a result of the Ottawa meetings. In the meantime, though business at Home has improved, there is no denying that it lias been bad ;.nd that there is still need for much great improvement. Costs must be got down.”

Wage reduction were being brought about : u many industries, not by concerted or national policy, but according to the dictates of circumstances in individual cases. Mr Borthwiek added. In some instances the reductions amounted to 10 per cent, and i n • tilers to much more. Britain’s industrial problem in respect of wages was very much a large-scale replica m New Z aland’s problem and, on the ..hole, the steps being taken and the effects of those steps were much the same.