What is wrong with the British iron and steel industry?

Bibliographic data

Monograph

Identifikator:: 1868556093

URN:: urn:nbn:de:zbw-retromon-249484

Document type:: Monograph

Title:: What is wrong with the British iron and steel industry?

Place of publication:: [London

Publisher:: The London Caledonian Press]

Year of publication:: 1931

Scope:: 23 S.

Digitisation:: 2022

Collection:: Economics Books

Usage license:: Get license information via the feedback formular.

equal—to justify its position in the economic life of the country and in world trade. What handicaps, if any, exist with regard to raw materials, transport, and in the marketing of its products. Factors of competition arising from trade restrictions and barriers on the part of its competitors. Factors of competition arising from lower standards of wages, hours and labour conditions in competing countries, including non-observance of International Labour Conventions. Factors of competition arising from subsidies, direct or indirect, or other similar measures in competing countries in relation to their exports of iron and steel. The cost of unemployment, not only in actual ex- penditure for the maintenance of the unemployed, but in the waste of skill and loss of morale, and the possibilities of the capitalised value of this and its equivalent being applied productively as a part of an organised scheme of dealing with the industry.” Having failed to induce Mr. Baldwin to set up a special [nquiry and as a General Election was pending, and the Labour Party had pledged itself to set up a Committee both for the iron and steel industry and the cotton textile trades, the matter could not be carried further for the time being. Subsequent events as to the setting up a Committee of Inquiry by the Labour Government, before which the Confederation gave evidence, are known to you. While the Report did not receive official publication, sufficient is known through foreign sources to enable us to state that the two essential factors referred to in this statement, namely, national organisation and foreign competition, formed an essential part of the Committee’s conclusions. At the same time, as the result of consultations between the Central Banks and the Government, the Bankers’ Industrial Development Company was set up, the purpose of which it is understood is to secure the organisation and financing of important industries under approved schemes. The results of its efforts are not much in evidence so far as the iron and steel industry is concerned, and it is alleged that what has resulted from the formation of the B.I.D. is a form of cartelisation of finances of a restrictive character. It is public knowledge, however, that a national scheme of organisation and development has been formu- lated, and that the iron and steel manufacturers are urging the institution of tariffs, and that this the Government are unable to accede to. It is clear, therefore, that an impasse has been reached and that an alternative must be found not only in the interests of the workpeople, but in the national interests. [ 20)

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