BRITISH COTTON INDUSTRY
REORGANISATION PLANS
AID FROM THE STATE
COLLECTION OF LEVY
(British Official Wireless.) Rec. 10 a.m. RUGBY, Dec. 20. A method for improving the position and competitive power of the cotton industry, which includes a scheme for the elimination of surplus spindles, was referred to by the president of the Board of Trade in answer to a House of Commons question.
He said that he had promised that if proposals for tile elimination of surplus spindles received support from a sufficiently influential proportion of the trade lie would be prepared to ask Parliament for statutory sanction for the collection of the necessary levy. The system was based on an estimate of Z0.000.0C0 running spindles. The committee responsible for the scheme had stated that the charge would not impose an undue burden on the industry if it was spread equitably over all firms. If, however, they were unable to borrow the necessary money cn tho subsidy provided, and the success of the scheme was thereby endangered, the Government would find some way to assist them to borrow monev.
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Bibliographic details
Poverty Bay Herald, Volume LXI, Issue 18586, 21 December 1934, Page 5
Word Count
179BRITISH COTTON INDUSTRY Poverty Bay Herald, Volume LXI, Issue 18586, 21 December 1934, Page 5
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