The Iron and Steel Industry The conscientiousness of the Government
in applying the Means Test sometimes contrasts strangely- with its generosity in granting subsidies and measures- of protec- tion. The iron and steel industry has, among other industries, received generous protection which can only be justified on grounds of national interest. The Import Duties Advisory Committee, under the chairmanship of Lord May, has been instructed " to examine the present position of the iron and steel industry and to report, with due regard to the national interest, on the general lines of future development." We hope that the Committee will consider the--information which. has come to light concerning the obstruction offered by the British Iron and Steel Federation to the establishment of a new basic Bessemer steel plant at Jarrow. In that case, the national interest appears to have suffered considerably. Indeed, it is almost inevitable that, without close supervision, an industry with a national monopoly, protected not only by the Government but by its agree- ments with the International Steel Cartel, should set its own interests above those of the State.
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