Recent Trends in National Finance

Extract

In any discussion on recent trends in national finance the most important feature to note is that the State is being called upon more and more to redress the balance in the social and economic system. This tendency shows itself in the introduction of quotas, subsidies, Government-guaranteed loans to industry, health and unemployment policies, etc., and can, of course, be traced back to the nineteenth century. During the last few years, however, some of the changes have been so rapid that it is not yet possible to appraise their true value, and it seems likely that in the not too distant future private enterprise will cease to be the dominant force in the economic life of this country, whatever may be the party labels of successive Governments. Apart from forces at present operating, the coming task of adjusting the economic system to a falling or even stationary population will certainly require Government assistance on a large scale, especially in the labour market if much unemployment is to be avoided.