Word: exportability
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...measures are not aimed at unemployment," Wilson insisted, "but at redeployment"-releasing workers from less critical industries for jobs in export or other important fields (see WORLD BUSINESS). By any name, it sounded to the T.U.C. brothers like joblessness (which climbed by 52,558, to 316,714, in the last four-week period), and a groan rumbled through the old Blackpool opera house. Wilson insisted on compliance with the wage standstill. "We have taken action," he said. "Now we have the right to ask for your free and willing assent to what the national interest requires...
Fast Footwork. S.E.T. is fraught with paradoxes. Its numerous critics note, among other things, that candy floss makers are given the tax break provided for manufacturers, but export agents, who contribute directly to Britain's earnings abroad, are taxed as service types. The whole tourist industry, Britain's fourth largest foreign-exchange earner, will be penalized as a service enterprise...
...notice not to jostle too hard the state-owned gasoline company, Total, and the state-favored tiremaker, Michelin. As in Germany, Esso is the top foreign company. In France for only the last five years, Goodyear and Firestone now supply 10% of French tires (as against 50% by Michelin), export 20-30% of their output to other European countries. Last week Goodyear joined Michelin in a $25 million project to produce an advanced type of synthetic rubber at a $25 million factory to be located near Le Havre...
...foreign creditors, who have put up more than $3 billion to defend the pound. For if Wilson cannot hold down wage increases in a period when his other taxation and monetary measures are taking hold, all credibility in the value of the pound will be undercut; British export costs, swollen by excessive wage gains, will rise, slowing foreign sales of everything from cars and gin to razor blades and woolens. Particularly because his is a Labor government, Wilson's ability to rein in wage demands is almost the litmus test of his ability to set his economy in order...
D.C.L.'s chairman, Sir Robert Gumming, 66, a fourth-generation distillery-man, last year was knighted "for services to export." Small wonder. Johnnie Walker, the world's top-selling Scotch, sends more than a million cases a year to the U.S. This month, making his annual report for the twelve-month period ending March 31, Sir Robert said that overall exports of Scotch rose by 9,120,000 million gal., or 16%, to a total of 65,440,000 gal. Distillers Co. Ltd. also made marked gains with its gins and vodkas, especially in the U.S., where...