Mr. Churchill was at his best when he drew a
picture of the conditions which cried out for rating reform. A six- teenth-century system had been fastened upon twentieth- century industries. Although the cost of living had fallen ten points since 1925 and had thus added £100,000,000 to the value of wages, the country's former glory, her heavy industries, was becoming gradually dimmer. All the coal-fields were losing money yet were paying millions in rates. The more undertakings that succumbed the harder the pressure on the survivors. Industries were fleeing from rate-stricken districts, otherwise best adapted to their needs, and left behind a sediment of misery and bankruptcy. The first step was to collect the necessary money, the second to decide the scope and direction of applying it, and the third to recoup local authorities for loss of revenue.
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