British Press Reception Of Tariff Reductions

Chronicle (Levin), 11 October 1949, Page 5

British Press Reception Of Tariff Reductions

(N,ZJ>.A.~

-Reuter.

Comright J

Received Monday, 7.1U p.m. LONDON, Oct. 10. The British Press gave a cautious welcome to liews of tariff reductions. Ihe Tiines said: "Positive reductions or re&trictions on trade brought about by the agreements reached at Annecy, do not in themseives amount to much. The most important achievement of the conference has been to discourage a l'urtlier iucrease in trade barriers. But even this is useful at a time when , growing ditiiculties" miglit weil lead to new restrictions. European countries, being Inrgely industrial competitors, stand to gain relativelv littie immediately lTom lnutual tarilr concessions. " The Daily Express featured on page one, a policy for Britain ' ' to end tlie ago of scarcity, " by Lord Beaverbrook who said: ' ' Kestriction and scarcitv must not and need not march with us aiways. llere is a political prograiuine wliicli, if implemenled, could wipe out these evils. The Enipire comes lirst. It must, for without tlie Einpire there is no future. " Lord Beaverbrook wanted firstiy to estaidish a system of Empire free trade; secondly, to initiate a new vast coloiiial deveiopment for the ravv niaterials needed for survival and ecouoiuic independence; thirdlv, to set np Liupire citizenship and view interimperial population problems as an mdivisible wliole so that the people would be ava^lable wliero there was the need. Lord Beaverbrook listed three points for reiuv -igorating British industrv. Firstlv, a mininium weekly income of £i5 for every workman; secondly, no limitations on dividends; thirdly, a reduction in taxation. He also said the pound sliould be set free and the House of Lords abolished. The Daily Express commented editoriallv that Lord Beaverbrook 's policy and the Annecy agreement did not square up. ' ' rPhe Annecy agreement hangs on the Geneva agreement of 1947 and the outcome is the same. Britain 's trading streugth is reduced and tlie British Empire is weaker. Britain 's total trade aifected by Annecy on the 1938 value standard," is £79,309,000. Britain 's ailvantage covers trade worth £22.000,000 in 1938. America's contribution covers trade worth no niore tinui £;j(t0,00i.) prewar. Wliat sort of bargain is that ! It is nearer 4 to 1 than 3 to 1 against tlie British with Anierica vieJdj ing notliiiig that unitters. The Financial Times commented: "The turiH" achievenients represent a j substautiai advance. Judgod in the j wiOer context of world trade, Annecy results are to be welcomed as the cle inonstration of a imw teciinique. The uouder is that 23 nations have been able in the time, to adapt existing agreements ainong themseives and absorb ten fresh niemiiers. "