DRASTIC STEPS

Wanganui Chronicle, 24 February 1947, Page 5

DRASTIC STEPS

BRITAIN’S ECONOMIC REMEDIES London, Feb. 21 Drastic steps to improve Britain’s economic position were foreshadowed in a White Paper just issued. They include: Measures to balance trade and overseas indebtedness. Means to improve coal producI ion. A discouragement of further big steel-consuming industries. A switch in agricultural production from crops for human •onsumption to products for livedock.

The use of 100,000 foreign workers in industry and the en?oliragcment of women to remain )r go back to industry. MAJOR POINTS The White Paper makes these points: Coal: The 200,000,000 tons coal figure quoted as an indispensable minimum can be achieved only with the most drastic economy. It will be a hard target for the miners. Machinery: The Government <ves high priority to all measures contributing to increased coal production, also to industrial conversion to oilburning machinery. Steel: The amount available in 1947 should be appreciably above that of 1946, but as a check on consumption the Government intends to discourage a further expansion of big .«teel consuming industries, relying on an increased output per man year to expand production to the limits of able raw material. Shipping: The 1947 target is 1250,000 gross tons, plus a large repair programme. Agriculture: The policy is to switch production as rapidly as possible from crops for human '-onsumption to the production of livestock products. Capital equipment: The general principle for 1947 planning must be that long term projects take second place to projects which will help quickly to restore the balance. Sir Stafford Cripps, addressing a Press conference, said the economic White Paper had taken the fuel crisis into account. The dislocation of industry had been over-estimated over 75 per cent., and British industry was still running.