Iron and Steel The large group of trades comprised within
the iron and steel industry received substantial protection last Year on condition that they made themselves more efficient. The Import Duties Advisory Committee has now published details of a trade reorganization scheme which the Chancellor of the Exchequer describes as a real step forward, though he adds that " much remains to be done before the industry can be said to be properly equipped and organized." The standard by which Mr. Chamberlain would assess the industry is not indicated. The iron and steel trades of Great Britain are far older than their rivals and have been prevented by crushing post-War taxation from equipping themselves afresh as their American, German and French rivals have been able to do. Still it is just as well that the Govern- ment should maintain a steady pressure on the industry so that it is not content to rest upon the protective tariff of 33f per cent. ad valorem. The proposed Iron and Steel Corporation of Great Britain, with its twelve sectional subsidiaries, might impart fresh vigour and confidence to the whole industry and enable it to regain its old prosperity. One large question to be faced is whether to go into the continental cartel or not.
* * * *
Previous page
