BRITISH & FOREIGN NEWS

Hokitika Guardian, 1 April 1925, Page 2

BRITISH & FOREIGN NEWS

AUSTRALIAN AND N.Z. CABLE AHSOOTAHON. HOUSE OF LORDS. LONDON, March 31. Jn the House of Commons Mr Baldwin anounccd that it was proposed to establish a Cabinet Committee to examine the question of Reform in ,the House of Lords. BRITISH LABOUR PLANS. LONDON, Mutch 30. The. Finance Inquiry Committee of the Independent Labour Party In:.; drawn up proposals for discussion at a conference at Gloucester during midApril, relating to the socialisation of property. The report states: Tho piece-meal confiscation of any form of capital would gravely injure trade and employment, and would have serious political effects. It would create the maximum resistance to Socialism. It would unite all the property owners, large and small, and those who fear the loss of employment. Such arguments, however, would lose most of their force if So-

cialism were achieved at ono sweep This, however, is unlikely at present

If the propertied classes do not act constitutionally in their opposition to a Socialist Government, and attempt sabotage, it will be necessary to with the situation on lines similar to W

those adopted during the transition stage to Socialism. If people were allowed to draw profits because their undertakings arc not ripe for nationalisation, then equity demands that the persons whose undertakings are ripe shall not bo penalised. Therefore. if Socialism is to be achieved peaceably, the violent opposition of the small capitalist must not bo aroused by the appearance of confiscation.”

Tho report goes on to propose that the wealth of the capitalist should be reduced by the capital levy, death duties, and increased income tux. lor •example, half of every estate above live thousand sterling might he exchanged to a terminable annuity for twenty years, which would transfer to tho State two hundred million sterling annually, and would strike at tl-e routs of the large fortunes. Concurrently with the nationalisation proposals, a national minimum wage and price control should bo instituted, the report states, and legislation should lie introduced for reducing the excessive profits. The* socialisation of 'banking and credit is also desirable, adds the report. and the Bank of England should he nationalised, as its powers are too great to he entrusted to a purely private qoneern. The hanks should he forced to keep the hulk of their reserves with the State Bank.

SOUTH AFRICAN TARIFF LONDON. March 31. Something akin to a sensation lias been cau«od by cabjxd information from South Africa indicating that General Hertzog’s Government intends to adopt a new tariff system, under which preference to Great Britain will bo abolished.

This is regarded as a severe blow to British Trade, morally as well as materially.

The “Daily Telegraph” is shadewing a drastic change in the fiscal policy of South Africa, which will be announced bv tlic Minister of Finance in his Budget Speech on Wednesday week. The paper understands that two rates of customs duty "'ill hn brought into force, the lower ono bcitm applied to all the countries which offer South Africa a satisfactory

quid pro qtto in return. The paper proceed.®: The new duties may affect ootton-pieoc. goods from Britain, while the British motor industry is likely to he hit more severe-

Tlie “Pailv TelegraphV' Capetown co-respondent argues: "Whatever lx? its excuse, or intention, the Government could adopt no system of taxation better calculated to encourage tli- American motor trade at the expens- <!' the Bsitish traders. The favourite argument of the enemies of nrefereitee air ears to he that South, \frien has nothing to apprehend from retaliation by the Government of Croat Britain, but it is field by the representatives of British importers* a „d by a huge section of the South Vfricnn community that a deliberate attempt is being made to foster foreign trade at the expense of Great

Britain’s. *phe "Daily Express” stales the change in the fiscal lwlicy of the l nioii means that South Africa intends to i tit Britain in a position of Jnfoijority to Germany and Holland, unless Britain is able to grant South Africa tlie same concessions as those countries. , , It adds that the full disclosure of the Government's plans is awaited with the deepest anxiety.

FOOD PRICES GO A [MISSION'S REPORT. Received this day at 9 a.Til.I LON’DON. Ala it! i 30. ,

The "Evening Standard” understands the Food Prices Commission’s interim report will shortly be issued, dealing with meat, bread, flour and wheat. It will express an opinion that there is no widespread profiteerin'? among retail butchers, but Unit prices are adversely influenced against the public bv arrangements anion"' the trading organisations. It will lie pointed out that ocean freights on meat and cereals are over high; that the present bread prices arc not justified and ought to he reduced; that the wholesalers boycott of retailors should * o prohibiten. The Commission will advise giving power to examine trading accounts under State tmpervision.

PORT OF LONDON. LONDON. Alarch 30

The Port of London Authority has , given its' sanction to a colossal four » million scheme which it is claimed will A make London the greatest port in the / world. It is intended to be complete w ithin lour venrs an enormous 11'ati„" landing stage at Tilbury ndjoini„" the promoted railway station, also a thousand foot long entrance dock a,,d thousand feet dry dock. ' -g

MINE STRIKE THREATENED. 'Received this day at 9 a.m.A LONDON. Ararch 30. Forty thousand Rhonda miners have tendered their strike notices, refusing to work with ncn-l’nioinsts.

EARL BALFOPR’S YTSIT. .7 ERTJSAT-EAf. Alnroli 30. Earl Balfour visited the Holy SepuHro. He then motored to Jericho the Dead Sea. unmolested. _ U'STRAI TANS IN BRITAINLONDON. Alarch *M* The "Evening Standard’s” tennis writer states that the i.roseiue of four Australian women at Wimbledon is exOth!!; exeentional interest localise thov are unknown qualities. l pile is arranging for the «unrt«« *> tour the Continent after the AAintblo don gaums.

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