The Legislative Basis for Industrial Intervention (1940–63)

Colin Wren
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Colin Wren: University of Newcastle upon Tyne

Chapter 3 in Industrial Subsidies, 1996, pp 29-51 from Palgrave Macmillan

Abstract: Abstract The lessons from the First World War had been learnt, and with the outbreak of war in 1939 controls were introduced immediately on imports, foreign exchange and materials, and quickly extended to give a level of comprehensiveness far greater than that which existed in the earlier period. Controls were exercised over investment, the allocation of raw materials, industrial action and over the movement of individuals between industries, so that by the end of the war it is estimated that as many as 80 per cent of manufacturing employees were working either directly or indirectly for the state (Skuse, 1972). Consumer demand was rationed, prices were fixed and the government pursued a policy of industrial concentration whereby production was restricted to a limited number of firms, which paid compensation to those firms put out of business. Taxes, which had been used almost continuously from 1915 to discourage the consumption of luxuries, were extended, with Purchase Tax placed on a wide range of goods.

Keywords: Development Area; Civil Aviation; Price Guarantee; Civil Aircraft; Industrial Intervention (search for similar items in EconPapers)
Date: 1996
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-37257-3_3

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DOI: 10.1057/9780230372573_3

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