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From Militant, No. 382, 18 November 1977.
Transcribed by Iain Dalton.
Marked up by Einde O’Callaghan for the Encyclopaedia of Trotskyism On-Line (ETOL).
Dear Comrades,
R. Adams [Militant, 11 November] raised the question of what has really happened to manufacturing production. These are the official figures [taking 1970 as 100].
|
January 1974 |
|
102.8 |
|
1974 as a whole |
108.9 |
|
|
1976 as a whole |
103.4 |
|
|
August 1977 |
103.4 |
Thus in 1976 output was 6% or so below the level of the YEAR of the three-day week [1974], as Peter Taaffe specifically said, [Militant, 30 September], whereas in August 1977, it was ½% above the level of the three-day week, measured by the MONTH most affected, January 1974, as I said in my article.
Both the statements were correct, if confusing, and together do not imply rapid growth from 1976 to 1977. As the table shows, in August manufacturing output was the same level as in 1976 as a whole.
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|
Yours fraternally |
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Last updated: 12 April 2016