FISCAL POLICY.

Press, Volume LXVI, Issue 20097, 28 November 1930, Page 18

FISCAL POLICY.

VOICE OF BRITISH INDUSTRIES.

FKBE TRADERS 4 PER CENT. (FRO U ova CVS COBUSPOSDEK'f.; LONDON, October 23. Tho views of members of the Federation of British Industries on the fiscal policy has been ascertained by means of a questibnnaire, which was sent out by a special Committee to between 6000 and 7000 firms, who are members of the Federation. The significance of the figures obtained from the investigation is apparent when it is remembered that the Federation is the only body representative of British industry as a whole, including in its membership some 2500 manufacturing or producing enterprises and 200 trade associations.

The questionnaire asked for an opinion as to the relative merits ol Free Trade, Protection, Imperial Preference, and a combination of the two latter policies. "Of the total constituency," says the Committee '• report, '' approximately 72 per cent, recorded a definite vote; 7.4 per cent, reported that owing to a divergence of views upon their boards thfey had been unable to reach a unanimous decision; while some others abstained from voting on the ground that their industries would not bd directly affected. "The analysis of the voting shows that of the definite opinions recorded; "(1) 3.9 per cent, are in favour of maintaining the existing Free Trade fiscal system. "(2) 96.1 per cent, are in favour of a change. "(3) No single industrial group within the Federation shows a tpajority in favour of maintaining the Free Trflde fiscal system. "If tlie number of firms voting are taken without reference to the number of their employees, the percentages are: "(1) In favour of the existing system, 4.5 per cent. "(2) In favour of a change, 95.5 per cent.

"Again, assessed in this manner, no industrial group in the federation shows a majority in support of the present system." Council's Resolutions. The Grand Council adopted the committee's report, and passed the following resolutions unanimously: The Grand Council shall press by every means in its povrer for the establishment of a fiscal system Tfrhich will cojnbine the protection of our dusfcrdai interests at home with the vridest possible extension of intetEmpire preference. The Council reaffirms the Federation 's policy of abstention from party politics, but it considers that in this time of grave national peril any measure and machinery aiming at the restoration of British industry should be treated as lying outside the realm of Party conflict. The Council also emphasises ths necessity of the adoption of any othe? measures which may be designed to rehabilitate British industry.