A NEW PERIOD

Otago Daily Times, Issue 22268, 22 May 1934, Page 4

A NEW PERIOD

INDUSTRIAL LIFE OF BRITAIN THE FUTURE OF TRADE Lord Herbert Scott, on assuming office as president of the Federation of British Industries, has made the following statement (reports The Times): — • I feel that, upon entering into the office of president of the Federation of British. Industries for the coming year, I am standing upon the threshold of a new period in the life of British industry, in which there will be many changes in the structure and organisation, of international trade. Some of these changes will be rapid, some unexpected, and no one would care ,to prophesy as to the ultimate system which will evolve from them.

I can, however, say that Great Britain is to-day in a position to exercise, if she chooses, a very strong influence upon the trend of events. She has regained her position as chief exporting country, she possesses a newly forged weapon in her tariff, and she represents to foreign countries the greatest single buying power in the world. • The restrictions which are hampering the free flow of goods throughout the world to-day are so well known that I need not recapitulate them. Many of them can, however, in my opinion be overcome by strong and resolute action on the part of those who negotiate and legislate on behalf of British industry. By making full use of the stability and strength which this country has regained by its own sacrifices and exertions, I feel that the extent of our export undertakings can be greatly enlarged. Foreign countries who wish to trade with us must be given clearly to understand that they must give us a larger share of their own markets and that, it they are not prepared to buy ' from us, we shall neither be able nor willing to buy from them. EMPIRE CO-OPERATION.

The Federation af British Industries has stated that its object is not to add to the number of restrictions on international trade. With that avowal I and all right-thinking ( people niust agree, but I feel very strongly that the time has arrived for this great country to give to the world that leadership for which it longs. But a leader must not only be strong, but must make use of his strength. , ,> * The power of Great Britain will be immeasurably increased if the Empire moves with her. I hope that we shall see during this year further* implementation of the Ottawa Agreements, and that in any policy which onr Government may pursue in its efforts to increase trade the of the Empire may not only be consulted but will also agree to take concerted action. Finally, I would like to say one word upon the organisation of industry. The tendency for Governments to invade the industrial sphere is increasing, and it is proportionately important that industry should be united and strengthened, both to defepd its claims and to voice its views. The Federation of British Industries is firmly established as the representative voice of * British industry. I feel that in the difficult times which inevitably lie ahead the need of a strong central organisation to voice the views of industry will become increasingly important.