CONCESSIONS

Evening Post, Volume CXIV, Issue 91, 14 October 1932, Page 4

CONCESSIONS

TO GREAT BRITAIN.

PROTECTING INDUSTRIES

The concessions which New Zealand has granted to Great Britain aro outlined by Mr. Coates.

"I have dealt-with"the concessions which, by virtue ■of the Ottawa Agreement, the United. Kingdom Government extend to' New Zealand, and have sketched the position, in" regard to meat. I now^. turn "to'the. changes in the New. Zealand Cristoms tariff to which we agree. ■ '

Generally/ our undertaking is that 'protection by. tariffs shall be afforded against United Kingdom products only to those industries which are reasonably, assured of sound opportunities for success.' We agree to institute an inquiry, into existing protective duties ■ (at. which inquiry United Kingdom producers •will have facilities for expressing' their views), and where necessary we will reduce protective duties to'such a level as will place the United Kingdom producer in the position of a domestic competitor, that is, to quote the text of the agreement, they will be reduced to a level 'which will give the United Kingdom producer full opportunity of reasonable competition on the basis of the relative cost of economical and efficient' production.' REMOVING THE SURTAX.

".We agree also to remove at once the surtax on goods produced in the United Kingdom, and, when financial conditions permit, to remove tho primage duty of 3 per cent, ad valorem. Tlieso.werii imposed, it-will be recalled, for revenue purposes and not for tho protection of local industries."