Figures issued by the Government during the latter end of February show clearly the disastrous results of Tooy economic policy. These people who lecture the working class on tho need for greater productivity and the end of restrictive practices have managed by their ‘restrictive practices' tc levell. off productivity. Because of under-capacity working, lack of confidsncee caused by ‘on-off! policies, the slackening of demand in whole sectors and the credit squeeze productivity has dropped in many industries (figures for output per man end quarter 1959 equals 100, Guardian indox) for the third quarter 1961 against tho same quarter 1960: Chomicals,103 to 1003 Vehicles, 38 to 843; motors,89 to 82; Ferrous metal, 98 to 893 non ferrous metals, 95 to 92 and Glass, 108 to 105. It is almost certain that the figures for the fourth quarter will reveal a groater drop.
Industrial production slipped another point in Decomber making a decline of 3% as compared with last summer. Althouvh there has boen a slight let up in the number unomployed, a more decisive relationship - unemployed compared with unfillod vacancies - again shows the fruits of Tay policy. From a position in September when the number of people unemployed was less than the unfilled vacancias things now stand where there are twice as many uncmployed as there are unfilled vacancies. This *Téry Party which, when out of power ‘uscd. to ujraid Labour for its oxcessive’ gpénding now has to incroase its ostimates for the next: financial, year, not by the 24% it promisod both its followers and tho I.1.F. but by 43%. Over £99 million oxtra is to be spent on defence and anothcr £66 million on increased agricultural support (no doubt to sweeten tho farmors into accepting the Common liarket negotiations) and another of the largest items,£43 million extra on British Railways deficit, is directly attributable to Government policy. Delivories of stcel havo declind so much that the railway's income has catastephically slumped in this sphcro,
Those facts, and mnany,others,should be widely known in tho labour movenent. Thoy give lie to the right wing policies of the Labour Party and trade union iteadership.e. Their analysis und doeper sonsideration will ao much to show the necossity of a workers! answor to tho crisis of British capitalism.