The business of aviation

AIR Commodore F. R. Banks, C.B., O.B.E., C.Eng., Hon.F.A.I.A.A., Hon.F.R.Ae.S., R.A.F. (Retd.), made some trenchant comments on the aircraft industry and its value to the nation's economy when he gave his Presidential Address before the Royal Aeronautical Society early in July. He said that he got very tired of hearing that this and that aircraft project would cost so many millions, as if the monies were to be spent all in one lump and then thrown away with little or no return, when in fact the expenditure was always spread over some years and the Treasury got about half of it back by taxation. He suggested that Ministers should restrain themselves from giving such block busting figures without fully explaining their significance. Some of the other main points he made are given below.