Lord Hirst, the retiring President of the Federation of British Industries, referring to the rearmament programme in a speech in London tributed over five years, which meant £300,000,000 yearly—roughly speaking, only eight per cent, of the country's total production, According to official statistics, he said, Britain produced £350,000,000 of goods in 1935, and £300,000,006 was not a sufficient factor to create a- dangerous hold-up.
Moreover, he said, not all of that £300,000,000, and any additions which might -be made to it, represented orders for industry, A considerable amount was spent on extra personnel for a variety of purposes and their training and the large amount of it meant only internal redistribution of capital, It was a great fallacy to suppose, Lord Hirst continued, that a slump must occur when the rearmament programme was finished. He did not think it would be completed in five years, Lord Hirst admitted that if the rearmament programme slowed down considerably and abruptly, certain industries would encounter difficulties, but he did not consider these diffulties would be either so grave or so extensive as to imperil the The King and Queen in Slum Clearance Areas The King and Queen paid a surprise visit to the and were given a great welcome by the crowd which gathered when i: e news flew around. Their Majestic: are seen leaving MacManus House, Plough Road. Battersea, after their inspection.
Text read from the printed page and cleaned; old type leaves the occasional error.