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Show Britons Told To Economize Industrial Group Urges Lower Taxes LONDON. The federation of British industries asserted the only way for Britain to pull out of its economic nosedive is to lower its standard of living. The federation said the Labor government's spending on social welfare schemes must be curtailed. cur-tailed. One of these schemes is the costly national health service.' In a statement the federation also called for lower taxes, fewer government controls, and harder work to produce more without rising prices. It added that Labor party plans for nationalizing more basic industries, indus-tries, such as iron and steel, are "distracting" the nation's producers produc-ers at a time when business problems prob-lems demand their closest attention. atten-tion. The federation represents 6,000 owners of British industries. It corresponds roughly to America's National Association of Manufacturers. Manufactur-ers. Its statement said: "There can be no escape from the hard logic that our standards of living, including in-cluding social services, must be cut according to the cloth we can from now on make. "The vast and menacing increase in state expenditure constitutes the basic inflationary influence in our whole economy. "It is this which bears most heavily upon production costs and is one of the most serious handicaps handi-caps to the future of British trade and to the living standards of our people." |