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The CBI will this week announce a Think British campaign aimed at cutting imports and stimulating home industries. The man behind the move is Sir Derek Ezra, chairman of the National Coal Board, who has persuaded the CBI's council that firms can buy British supplies without paying more for their patriotism.
The target of a conference the CBI is calling early in the New Year will be the 50 biggest manufacturing companies in the private sector and 16 leading firms in distribution who together spend £35bn a year.
Sir Derek says "By actively pursuing a policy on the line I have described they could have a major impact in stimulating industrial competitiveness and growth". Nationalized industries have already switched up to £100m worth of their buying from foreign suppliers to British firms in the past year.
In a paper which went to the CBI council last week, Sir Derek produced figures to demonstrate how, by hunting out suppliers who were prepared to co-operate closely in developing equipment and materials at the right quality and price, the nationalized enterprises have succeeded in getting what they want and in boosting Britain's exports.
The NCB itself, at the same time as cutting back the import content of its annual '1,000m worth of purchases to 2.6%, has helped the British mining equipment industry to raise its exports from £26m to £129m in two years. The public enterprises together, who spent up to £10bn on goods and services each year, have cut the amount they buy abroad from 4.3% to 3.4% over the past year.
Sir Derek emphasizes that this has not been done by sacrificing profitability. But, Debenhams, one of the handful of retail chains who have been pursing a similar policy, says that it has had to accept the a cut in its own margins so far to make it work. The chain has replaced £25m worth of Italian shirts and socks by British products during the past nine months.
69. One of the aims of Think British campaign is to _____.
A. cut exports
B. stimulate imports
C. develop new products
D. encourage domestic industries
70. Which of the following is true about nationalized industries?
A. They bought £100m of British supplies in the past year.
B. They bought £129m of foreign supplies in the past year.
C. They bought £1,000m of British supplies in the past year.
D. They bought £26m of foreign supplies in the past year.
71. The British mining equipment industry is _____.
A. privately owned
B. publicly owned
C. jointly owned
D. internationally owned
72. The word "this" (final paragraph) refers to _____.
A. the public sector.
B. the Think British campaign
C. the British mining equipment industry
D. reduced purchases of foreign goods
