BRITISH POLITICS.

Hokitika Guardian, 10 July 1929, Page 5

BRITISH POLITICS.

IN THE COMMONS. (United Press Association —By Electric Telegraph—Copyright). LONDON, July 8. In tho House of Commons, Mr MacDonald said it was not proposed to appoint a committee, to consider the effect of trade union rules restrictions upon trade and unemployment. Mr A. Henderson said the evacuation of the Rhineland was hound up with the settlement of the Young report on reparations, but the conclusion must not be taken that there would be no evacuation until the reparations were settled. Sir P. Cunliffe-Lister said in view of Britain’s increasing trade with- the dominions it would be madness to depart from the late Government’s policy of Imperial preference. The Ministry had an opportunity, by continuing preference of sending ,a whole message of encouragement and hope.

VARIOUS QUESTIONS RAISED. vßritish Official Wireless.) (Received this day at 11.25. a.m.) RUGBY, July 9. Replying to questions in the House of Commons, to-day, the Chancellor of the Exchequer (Mr Philip Snowden) said proposals for the final settlement of the reparations --question] recently •submitted to British and other Governments by a committee of experts,- was being considered by the Government with a view to a conference with other powers concerned. The Ho,use would realise this country, was in no ivay committed to the acceptance of the recommendation of the Voting Committee. Replying to another question, Mr Snowden said that from the outset of the negotiations for the funding of French war debt, the late Government laid down, as a fundamental principle, that any payment France might make to the United States Government should be accompanied simultaneously by a proportionate payment to Great Britain, and a reminder that this principle still holds good, was sent to the French Minister of Finance by Mr W. Churchill last May. Questioned regarding the loss that would be entailed to Britain by reason of a departure from the Spa percentages recommended in the Young report, Mr Snowden said they amounted on an average to approximately £2,400,000 yearly. Capital on an average of this annual loss would depend on the interest taxless 7 -'selected, but applying 5£ per cent taxable which the experts themselves ha,ye utilised for their calculations, may-.be estimated at £37,500,000. . The great- hulk of the loss would, however, only begin to he incurred after ten years. The report recommended that the French Government should receive a preponderating share of the unconditional part of the German annuities, but that they should provide a guarantee fund amounting to £25.000,000, which would be drawn upon to make good together creditor powers any loss arising out of the postponement of the rest of/the annuities. Provided this guarantee fund was effectively put in force, the security of the British share as compared with- the French, should be appreciably unimpaired, so, long as any postponement of German payments was limited to two years as contemplated in the plan, but of course the guarantee fund afforded no security against a cessation or longer postponement of additional annuities. To the extent that these were regarded as possibilities it might be said that the effect of the Young plan was to concede priority to France and Italy.

The President of the Board of Trade, Mr William Graham, said that regarding the report of the Safeguarding Committee on the woollen and worsted industry published yesterday, the Government did not consider it called for any action by them. If the House desired an opportunity it would he provided for discussion of the report. . He added that it would be very easy to prove that a great majority' of members of trade unions in the area concerned were against this proposal. The Chancellor of the Exchequer, replying to the debate on the Conservative amendment to the Address to the Throne, said there was no analogy between tlie McKenna duties, imposed for a specific purpose during the war and the safeguarding of industry duties. It was upon that fact that he would base the right of the Government to make no announcement as to the date when they proposed to deal with a repeal of the McKenna duties. As to whether or not those duties would he repealed in the next Budget, the Opposition would get no satisfaction.

LONDON, July 9. In the Commons, Mr Thomas Shaw (Minister for War) informed Mr Oliver Baldwin that for 150 years the War Office had supplied a military guard for the Bank of England as the Government’s bankers and custodian of the country’s gold reserves. Its position was obviously different to that of other banks. Mr Shaw said lie was willing to consider a useful suggestion concerning tlie abolition oi the guard. Mr Snowden an answer to a question said he would consider whether it would be in the public interest to permit the Government to accept land in payment of death duties, tisli troops would not carry out manoeuvres in Germany in 1929. Mr Shaw told questioners that BriThe Government was not proposing to change the method of tendering for ration beef for the army. Last half year 33 per cent was supplied bv the Empire.