Sir Peter Rylands, addressing the Scottish members of the Federation
of British Industries at Glasgow on Tuesday, declared that the Government had been too hasty in paying off debt by means of crushing taxation. Industry would regain confidence and employment would increase, he thought, if the Government were to raise again the loans paid off during the past years and reduce taxation. He would, however, make it a condition that the extravagance of the departments must be checked. There is something in Sir Peter Rylands's sug- gestion, for it is worse than useless to ruin our industries by trying to pay off the war debt too quickly. On the other hand, if the Government once acquired the habit, in time of peace, of living partly on loans, the national finances would soon be in inextricable confusion. There is still plenty of room for economy in the swollen departments in Whitehall and in the grandiose policies which they encourage Ministers to adopt.
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