John Davies (businessman) - Trade and Industry

Trade and Industry

That October, Davies was promoted to be Secretary of State for Trade and Industry, a new department set up by Heath. He introduced himself at the Conservative Party Conference with a speech which reiterated Heath's pre-election policy of refusing to intervene in industry. The phrase most closely associated with him was said in the House of Commons on 4 November, when Davies said:

"We believe that the essential need of the country is to gear its policies to the great majority of people, who are not 'lame ducks', who do not need a hand, who are quite capable of looking after their own interests and only demand to be allowed to do so." (Hansard, 5th Series, volume 805, column 1211)

The term 'lame ducks' became associated with Davies. However, when Rolls-Royce (a vital defence contractor) ran into financial difficulties early in 1971, it was decided that the government should help by bailing it out. When nugatory efforts did not help, the company was nationalised to prevent it from going bankrupt.

In June 1971 the Upper Clyde Shipbuilders went into receivership after the government refused it a £6 million loan. The workers at the yard, led by Communist shop stewards, decided to hold a 'work-in' when they occupied the yard and continued production. This industrial action tended to refute claims that trades unions were work-shy and was therefore embarrassing to the government. Davies' London home was firebombed by the Angry Brigade on 31 July 1971. In February 1972 the government changed its policy and decided to retain three of the four shipyards at a cost of £35 million, although Davies knew they would never operate on a commercial basis.

Read more about this topic:  John Davies (businessman)

Other articles related to "trade and industry, trade":

Stratton, Cornwall - Trade and Industry - 19th and 20th Centuries
... Trade directories allow us to compare the two towns, for example, in 1844, when Stratton had six shoemakers, Bude had only one, although Slater’s Trade ...
Economy Of Mexico - Trade - Mexican Trade Facilitation and Competitiveness
... A research brief published by the World Bank as part of its Trade Costs and Facilitation Project suggests that Mexico has the potential to substantially increase ... The study examines the potential impacts of trade facilitation reforms in four areas port efficiency, customs administration, information technology, and ...
Lebak, Sultan Kudarat - Commerce, Trade and Industry - Banking and Financial Services
... Local water utilities are supplied by Lebak Water District (LEWADI) ... Sultan Kudarat Electric Cooperative (SUKELCO) powering up to the barangay Basak which 21 kilometers from Poblacion ...
International Trade - Fair Trade
... The fair trade movement, also known as the trade justice movement, promotes the use of labour, environmental and social standards for the production of ... have also sparked a debate on whether trade itself should be codified as a human right ... Importing firms voluntarily adhere to fair trade standards or governments may enforce them through a combination of employment and commercial law ...
Chinay - Trade and Industry
... country's population at 1.3%, the Chinese Filipinos have a disproportionate impact on both trade and industry ... including the one with the largest circulation." Retail Trade Chinese Filipinos pioneered the shopping mall" concept ... Banking From small trade cooperatives clustered by hometown, the Chinese Filipinos would go on to establish and incorporate the largest banking institutions in the ...

Famous quotes containing the words trade and, industry and/or trade:

    Trade and commerce, if they were not made of India-rubber, would never manage to bounce over the obstacles which legislators are continually putting in their way; and, if one were to judge these men wholly by the effects of their actions and not partly by their intentions, they would deserve to be classed and punished with those mischievous persons who put obstructions on the railroads.
    Henry David Thoreau (1817–1862)

    Bankers, nepotists, contracts and talkies: on four fingers one may count the leeches which have sucked a young and vigorous industry into paresis.
    Dalton Trumbo (1905–1976)

    I doubt if men ever made a trade of heroism. In the days of Achilles, even, they delighted in big barns, and perchance in pressed hay, and he who possessed the most valuable team was the best fellow.
    Henry David Thoreau (1817–1862)