§ I turn now to manufacturing industry generally. For a programme of more rapid growth two things are needed: first, a higher level of investment; and, secondly, a better use of our resources, both present and future. I think that there is sometimes a tendency to overestimate the relative importance of the first and underestimate the possibilities of the second. The amount that could be achieved, and achieved rapidly, by better management and better deployment of our resources, and more rapid use of modern techniques may be very much larger than at present we suspect. But here responsibility must rest very much upon management and unions: management to search out new machinery and new methods, labour to encourage their introduction.
§ The responsibility of the Government lies particularly in the field of encouraging investment, both by making it more profitable to invest and by helping to ensure the flow of funds for investment. In this field, the Government are doing, and will do, their part, as I intend to demonstrate, and we shall look to management and labour to do their part, also.