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WHAT HAS TO BE DONE (Print this section in bold)
We must pay our way in the world and produce more wealth inside this country. Our target is an increase of a quarter in output by 1970. This is necessary if we are to enjoy the living standards we want, improve our social services and play our part in world affairs.
To achieve our objective action is to be taken on the following eight points.
1. A sharp brake is to be put on Government spending abroad, which has been rising much too quickly.
2. Private investment abroad is to be reduced to a level that we can afford.
3. Government spending in this country will be kept within our means and the money that is available will be spent more in ways that help to improve efficiency. More will be devoted to items like industrial training and technology, while the rise in defence spending will be brought to an end.
4. The Government are working together with managers and trade unionists, to put new zip into British industry. Nearly every industry is making its own plans for improving efficiency, pushing up exports, or saving imports. More help is already being given to exporters and work is going on to encourage longer runs, provide better training for managers and to improve efficiency in other ways.
5. Industry will need to step up its plans for buying more plant and equipment. The Government is looking at the incentives to do so; but firms themselves must look further ahead in making their plans.
6. Agreement has been reached on a policy for productivity, prices and incomes. Employers and trade unionists have undertaken to carry out their part in this policy and the National Board has begun to pronounce on individual cases. If necessary, the policy will be strengthened.
7. A programme is well under way to cover the human effects of industrial change. This includes redundancy compensation, wage-related unemployment benefits, and better industrial training. In return management and unions have promised an all-out effort to get rid of restrictive practices.
8. More work will be brought to those parts of the country where there are still not enough jobs. In providing more industry, transport and housing for a rising population, we aim to build up a country in which it is pleasant to live and work, and where all parts share in the growing prosperity.
The Government have not hesitated to give a lead and to act themselves. But everyone has a part to play in carrying cut the National Plan if we want the benefits that its success can bring.