FEDERAL TARIFFS

Hawke's Bay Tribune, Volume XVII, 25 November 1927, Page 5

FEDERAL TARIFFS

SOME DRASTIC ALTERATIONS PREFERENCE GREATLY EXTENDED. HOME INDUSTRIES PROTECTED. (By Cable — Press Assn. — Copyright.] (Received 25, 8.15 a.m.) Canberra, Nov. 25. In the House of Representatives, replying to a question as to the comparative values of a preferential policy to British and Australian industries, the Minister of Customs said that during the five years ended June, 1926, tariff rebates totalling £36,470,coa were granted on goods imported from Britain. The latest British figures available were for 1925; these showed that in that year British rebates on Australian goads amounted to 571,441. \IINISTERI AL EXI’LANATION. (Received 25, 11.15 a.m.) Canberra, Nov. 25. Senator Flatten, introducing the new tariffs, said the alterations in tariff items and sub-items niiinbe, ed 135. 04 these 24 dealt with reductions in duty, in many cases on popular and revenue-producing items. The number of duties which were increased in both the British and the foreign schedules was 23. The number of foreign duties in which increases were made without increasing the corresponding British rate was 26.

Ten alterations were proposed for rectification of anomalies and in addition there were 53 alterations giving increased preference to the United Kingdom. The total proposed alterations in that direction increased British preference. It was estimated these would be of ultimate value to British trade of £1,500,000 and would increase the total preference given to the United Kingdom to more than £10,000,000 annually. Once the tariff was in effective operation there would be no nett increase m revenue, nor any further tax upon the community, as the whole further help given to Australian factories by the alterations would capture £3.000,000 worth of the present British trade and £3,000.000 worth of foreign trade. Britain, by virtue of increased preference, should also be able to capture. half of the remaining foreign trade in the items affected, so that the nett gain to Empire trade expected to be brought about by the proposals was approximately £ll,000, of which Australia’s share would bo £6.000,000, and Britain's nearly £5,000,000. This estimate was cased on the fact that foreign trade in the items in question now totalled £18,000,000 annually.

FAMILY ENDOWMENT ACT (Received 25, 11.45 a.m.) Sydney, Nov. 25. Tho Assembly passed through t.n first reaGlng a bill to amend tho Family Endowment Act. The Bill provides for the discontinuance for a certain period of payments by employers to the Family Endownnient Fund as sufficient money has already been collected to finance the endowment. until the end of the present financial year. The bill also provides for removal of Mr Treble from the Commisnioncrsh’p of Family Endowment.