Word: brittanic
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...year. At the same time, the inflation rate will continue falling, from last year's 7.5% to 6.8% in 1984. Unemployment is not expected to decrease, but the rise in the number of jobless will halt and remain at this year's level of 10.5%. Said Samuel Brittan, assistant editor of London's Financial Times: "Europe clearly is a tortoise when com pared with the U.S. and Japan, but it is not a tortoise in relation to its own recent performance...
...Brittan: "The enormous expense of the agricultural policy is reducing the standard of living throughout Europe. Only landowners are benefiting; not even the small farmers are getting anything...
...Brittan was critical of the Community's industrial policy, saying, "The Community risks having the same kind of mess in industry that we have in agriculture. It is absurd for Brussels to try to determine which industries can grow...
...having in creating new companies. He argued that better prospects for profit were necessary to create new investments in Europe. Above all, Giersch said, Europe needs to create incentives so that entrepreneurs can succeed in creating new firms and new jobs. Brittan called for a standstill on real-pay increases so that Europe can catch up competitively. Such a measure, he said, "would break the back of the unemployment problem." Chevalier confessed that one mistake to avoid repeating was France's attempt to establish an overall government-led industrial policy. This, he said, has mainly produced unnecessary official spending...
...Conservative government will no longer be able to count on the oil cushion that has so far helped it to soften the harsher effects of the recession. With inflation down, Thatcher is expected to take more risks to protect the recovery. To improve British competitiveness in world markets, Brittan expected the government to encourage a fall in interest rates, as it did last week, in order to slow the rise of the pound on currency markets. Brittan said that a prolonged recovery will above all depend on keeping wage increases under control during the next few months...