FUTURE OF THE IRON AND STEEL INDUSTRY Memorandum by the Minister of Supply and Aircraft Production.

the efficiency of which depend to a large extent the prospects of the engineering industries, probably our most important asse for the large-scale expansion of our export trade. 6. Other considerations to be taken into account in deciding how the industry should be dealt with are: (a) many of the schemes to be submitted will be costly projects of a long-term character; and the firms concerned, if they were expected to make a prompt and energetic start with the actual work of reconstruction, would need to be encouraged not only to embark on the expenditure involved but to take all other action with the enthusiasm and skill necessary to get a major task effectively executed as quickly as possible.