INDUSTRIAL BRITAIN.

Manawatu Standard, Volume LXI, Issue 27, 31 December 1940, Page 6

INDUSTRIAL BRITAIN.

WONDERFUL IMPROVISATIONS. ■ ' LONDON, Dec. 2S. The Economist’s trade supplement takes a fairly lavourable Anew of the business position in Britain. It says that the air raids and transport difficulties continue to hamper production, hut the output is considerably higher than might be expected for a period of intensive bombing. Germany has obtained results nothing like those she expected. The actual destruction of munition factories has been very small. “The experience of the last few months has shown that night- bombing on the present scale does not curtail the volume of production sufficiently to cause serious anxiety,” the writer states.

“Though the shipping losses arc heavy, large imports of essential materials still arrive safely, but still greater efforts are needed to speed lip tlie turn-round of ships in tlie ports and to accelerate distribution of the cargoes to the centres of consumption.”

The writer concludes: “British industry lias done wonders of improvisation in the last year and has achieved a measure of success in adjusting itself to the new and difficult conditions. The progress in niany-dircetions has been very considerable: but all told our achievements in 1940 have not been commensurate with our needs and resources, and only a maximum effort in 1941 will sec us niimign the critical period.” ' The campaign against the excess profits tax is gathering, force. The chairmen of many companies at their annual meetings are complaining, ot inequitable incidence of the taxation. The Daily Telegraph says that representations have been made to the Chancellor of the Exchequer (Sir Kingsley Wood) that the tax tends to remove the incentive to efficiency and economy The newspaper suggests that he will modify the tax in his next Budget, possibly reducing the 100 per cent, duty to one of 80 or 90 per cent.