‘Confidential Note of a Meeting Held at the Board of Trade on the 25th February 1947, Between the National Union of Manufacturers and Mr. Marquand, Mr. Helmore, Mr. Holmes, Mr. Summerscale, Miss Fisher and Mr. Sydenham-Clarke of the Board of Trade’, PRO, BT 11/3242.

Sir Patrick Hannon asked the Board of Trade to consider the possible reduction in employment in the United Kingdom which might follow from the modification or elimination of Imperial Preference and emphasised that this country should, at all costs, try to avoid a repetition of the slump of the early 30s. Mr. Marquand said that the new chapter on industrial development had been brought into the proposed Charter by way of a compromise. Sir Patrick stated emphatically that in the opinion of the NUM this Clause is too sweeping and should not be allowed to appear in the Charter at all, since it would invite those who found themselves harmed by some of the provisions of the Charter to escape from their obligations. Mr. Marquand confirmed that the state trading clauses had been drafted in the first place with the Russians chiefly in mind.