TRANSPORT COMMISSION TO SUBSIDIZE COAL?
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THE Transport Commission may be used to produce revenue to subsidize the nationalized basic industries of coal and steel, said Sir John E. Thomycroft, K.B.E., governing director and chairman of John 1. Thornycroft and Co., Ltd., at the company's annual general meeting last week.
This," he continued. will have th2
general effect of increasing manufacturing costs and further reducing the country's competitive capacity ()vet-seas. In the past, private transport undertakings have contributed substantially to the Exchequer by way of income tax on their profits; it remains to be seen what contribution will be made from the Transport Commission."
Sir John foresaw that :he :estrictiaa of the operations of hauliers and ;Ina lary users would cause the number of potential customers and the size of their fleets to be reduced.