WHICH COMES FIRST?
SIR,--Nicholas Davenport is wrong in saying of the FBI'S recent conference at Brighton that 'the im- portant industrialists there assembled all insisted that "growth conies first."' It is true that this was the view of the study group —one of five into which the conference divided—which concerned itself with growth; but the procedure of the conference did not provide for the elicitation of the views of the full assembly on the various groups' conclusions.
The work of the study group on growth is to be taken further by a special committee, and when this reports the FBI may take up a position on the sub- ject. It is certainly untrue to say that the FBI is at present committed to any view upon it. On the Other hand, it has more than once in recent years made statements which could be construed to mean the £ comes first.' If 'growth comes first' really meant, as Mr. Davenport appears to think, let the
rip: the FBI would be most unlikely to give it approval.—Yours faithfully,
A. A. SNENFIELD
Economic Director Federation of British Industries 21 Tothill Street, SW!
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