VICKERS.
It is not surprising that at the recent meeting of Vickers Sir Herbert Lawrence drew attention to the fact that one effect of the non-extension of the Export Credits Scheme to armaments was to place British -mamifacturers at a dis- advantage with =others abroad whose Governments gave financial facilities. Moreover, as a result of the absence of such facilities, employment was lost to skilled workers in our own country without any reduction in world artnatfients being secured. While frankly recognizing the pohsihility that a successful outcome of the Naval Conference might affect the company's profits, Sir Herbert Lawrence uttered the warning that even if a reduction in the size and. weight of the Navy was found practicable, consistent with the safety of the country and of the Empire, no Government could afford to destroy the potential reserve of armament production of private manufacturers unless there was absolute evidence beyond all -question that every other nation had reduced its production facilities correspondingly.
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