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PRICES DOWN: WAGES UP

17th January 1947, Page 28
17th January 1947
Page 28
Page 28, 17th January 1947 — PRICES DOWN: WAGES UP
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Which of the following most accurately describes the problem?

AFTER referring to valuable time lost in a search for materials, Sir Allan Gordon-Smith, K.B.E„ D.L., chairman and managing director of S. Smith and Sons (England), Ltd., said at the company's annual general meeting:—

" On the one hand, we have our Government pressing us for higher production and warning us that prices must be low and economic if we are to compete on what will soon become a buyers' naarket, and, on the other hand, we have the constant demand of labour for higher wages and shorter working hours."

Sir Allan said that the possibilities of reducing cost of production by improved mechanization were being thoroughly studied.

He said that 40 per cent, of everything produced by the company was exported directly or indirectly.