FREE industry, under the control of the workers, is therefore vital if we are to develop a genuinely comprehen sive health service. Furthermore it is essential to stop the drug monopolies bleeding the NHS financially.
The banks and the finance com panies are the key linchpins in any In 1971 industry borrowed £6.41 billion of which £732 million came from the banks. By 1973 bank borrowing represented £4.5 billion out of a total of £13.98 billion borrowed. In two years industries" loans from the banks jumped from 12 per cent to 32 per cent — a clear indication of the growing power and control of the banks over investment.
The finance companies wield tremendous power over industrial investment. Over 50 percent of shares in this country are in the hands of the insurance companies, pension funds and other finance Clearly the nationalisa. tion of this sector of the economy is vital if investment is to be really planned to meet social need instead of private gain.
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