Committee on Industry and Trade
Encyclopedia
The Committee on Industry and Trade, also known as the Balfour Report because it was chaired by the industrialist Arthur Balfour
, was a committee set up to discover the reasons for the United Kingdom
's economic decline since the Great War
. It sat from 1924 to 1928.
The Final Report in 1929 concluded that what was needed was the rationalisation of Britain's staple industries and the losses to employers due to this remedied by development of newer industries. Also, the market had failed to bring about rationalisation due to the rigidities in Britain's economic system. The Report appeared "in six volumes, contained a searching examination of the country's industrial competitiveness and made recommendations concerning the UK's future ability to compete in overseas markets".
Arthur Balfour, 1st Baron Riverdale
Arthur Balfour, 1st Baron Riverdale GBE , known as Sir Arthur Balfour, 1st Baronet, from 1929 to 1935, was a British steel manufacturer.Balfour was the son of Herbert Balfour...
, was a committee set up to discover the reasons for the United Kingdom
United Kingdom
The United Kingdom of Great Britain and Northern IrelandIn the United Kingdom and Dependencies, other languages have been officially recognised as legitimate autochthonous languages under the European Charter for Regional or Minority Languages...
's economic decline since the Great War
World War I
World War I , which was predominantly called the World War or the Great War from its occurrence until 1939, and the First World War or World War I thereafter, was a major war centred in Europe that began on 28 July 1914 and lasted until 11 November 1918...
. It sat from 1924 to 1928.
The Final Report in 1929 concluded that what was needed was the rationalisation of Britain's staple industries and the losses to employers due to this remedied by development of newer industries. Also, the market had failed to bring about rationalisation due to the rigidities in Britain's economic system. The Report appeared "in six volumes, contained a searching examination of the country's industrial competitiveness and made recommendations concerning the UK's future ability to compete in overseas markets".