The Financial Times, on Monday, carried the followgng alarming report :-
"Businessmen have nore hope of making money or making progress under a L:bour Government than before, declares Mr. George Brown, Minister of Economic Affairs, in this month's issue of Tre Director. In answering questions put by Mr.Eric Foster, the editor, Mr. Brown declares: "Without any question at all, private enterprise should be allowed to earn its profits,"
Buu Mr.Broim accuses directors of being unwilling to give him the same support in public as they do in private. "Those directors whom I have met," he says, "clearly agree with me about what ought to be done, at least so far as running the nation's economy is con- j cerned..,lhere is one differehce between us, When I say what I am saying now, it is called socialistic - and that's exactly what . prevents businessmen saying it in public. I° private we seem to agree wholly...Well, I think it's about time some of them acknowle“’ged this in public, After all, I'm willing to get myself in trouble fron time to time with my left wing. Why shouldn't some of them risk getting into trouble with their right wings?"
Mr. Brown acknowledges that profit making still has an inportant role to play. "We - and by we in this answer I mean the British public and not the L:.our Party - are going to run a mixed economy as far ahead as we can see. A.’ on the basis of our present proposals for nationalisation, that means that something like 80 sper cent of the economy will be private enterprise. That being so, it needs its own stinulant...and the motive power of private enterprise qite clearly is profits.... Ii its profits end up in too big a private income for some people," ndded Mr.Brown, "that is for the Chancellor to deal with. But I want to make one thing very clear: I ean earning profits. - Profits which accrue from putting up prices irrespective of the needee. are not in my opinion meeting the criterion by which they ought to be judged." ‘The Week comments: Tris statement by Mr,Brown is a truly remarkable one. To say that "we are committed to 2 mixed econony as far ahead as we can see" is bad enough - who told Mr.Brown this ? But to go on to say that this meamw that 80% of industry will be in private hands is to fly in the face of every single hope and the vast majority of policy statements which have been nourished by the Labour P:rty in the last decade. What has come of our new competitive public enterprises? Our incursion into new technological spheres on government initiative? To say nothing of the plans for nationalisation drawn up by the Confederation of Shipbuilding and Engineering Usions, U.S.D.A.W., and a dozen other major trade union organisations ? Mr,Brown has spilt a bibful. But these are words he must be made to eat, Compromises which allow L-bour to win, and cost us a year ot so, party supporters might tolerate. Bui this wholesale repudiation of our ains for "as far ahead ap we can see" is just not tolerable, Wo won the battle of Clause IV, anyway ? It is high time for the big battalions to speak. We appeal to the C.S.E.U., the T.& G.W.U., =md all the others: can you let this vain man continue to traduce the goal which we employ him to pursue ?
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