The Metorandum then sets out the anticipated resulta of deliberate and drastic retrenchment in building. There would be an increase of the change for unemployment benefit by amounts varying from 20%. 8d, to 27s, 8d. a week for exch remuneration either in the building industry or the ancillary industries. "This proportion of the money expended is thus kept in ele culation and constitutes a substantial part of the purchasing power upon which the manufacturing and exporting industries have to rely for their fundamentally important home market." The net result of refraining from the expenditure of £100 on justifiable building projects would be to withdraw £80 of wage payments and to substitute £32 ax unproductive payments at the expense of industry generally. "For every £1,000,000 of building work abandoned the State or local authorities would be called upon to bear un unproductive expenditure £375,000 in unemployment benefit and public assistance, while a further £425,000 would be withdrawn from the purchasing power of the wage earners, Having pointed out that unemployment in the building industry induces "creeping paralysis in other industries, the Memo= random proceeds to ance the converse pre position thata revival of activity in, the building industry would stimulate general activity,
Text read from the printed page and cleaned; old type leaves the occasional error.