Abstract
IN a pamphlet entitled “The State and Industry in 1932”, printed for private circulation, Capt. Harold Macmillan, M.P., elaborates further the scientific policy which should be the natural accompaniment of the British Government's general tariff plan and the creation of the Import Duties Advisory Committee (see NATUBE, Feb. 20, 1932, p. 271). Capt. Macmillan directs attention to the positive aspects of this new departure in fiscal policy, to the administrative problems which it presents, and to the vital importance that the opportunities under the new policy of securing the development of our industries on deliberately planned lines should be wisely, efficiently, and expeditiously used. The administrative methods adopted make the Import Duties Advisory Committee the keystone of the structure, and upon its efficient functioning depends the success of the whole policy. Altogether apart from the abilities of those chosen for this work, there is serious danger that the Committee may become a bottle-neck rather than an efficient clearing-house, resulting in delays exasperating to the applicants and endangering precariously situated industries, or in ill-considered judgments which will later bring discredit upon the Committee and upon the policy it is endeavouring to apply.
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Scientific Aspects of Fiscal Policy. Nature 129, 557–558 (1932). https://doi.org/10.1038/129557a0
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DOI: https://doi.org/10.1038/129557a0