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'INVESTMENT HIT BY FEA
Page 41
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ACK of confidence in future' narkets and adequate returns ather than availability of ands, is inhibiting investment the British motor industry.
The Wilson Committee nquiring into the workings of he City were told this by the ;ociety of Motor Manuacturers and Traders.
According to the SMMT, the .bsence of investment stems rom an economic situation :haracterised by low demand, ligh inflation and high interst rates, stop/go Government )olicies, under-used capacities Ind low productivity.
There is therefore, a low return on past investment and a reduced incentive to accept risks because of high taxation of successful investment.
British industry is paying more for its investment funds than its overseas competitors because of the high interest rate imposed to protect sterling.