HOUSE OF LORDS

Hokitika Guardian, 20 November 1929, Page 5

HOUSE OF LORDS

(British Official Wireless.)

(Received this day at 1.5 p.m.) RUGBY, Nov, 19

Lord Beaverbrook asked i in the House of Lords if the Government would do anything to encourage the movement for free trade within the Empire.

Lord Arnold, replying for the Government, said they thought the prosperity of the Empire was more likely to be achieved by their policy than by any scheme of Empire free trade, which could not be achieved without first reversing the fiscal policy of the Mother country and making it a protectionist country. He had repeatedly refused to desert the policy' of free trade. He challenged Lord Beaverbrook to produce slighted evidence that the Dominions would come into a scheme which would require them to reverse their fundamental system of protection. He said the scheme would meap a rise in price of foood stuffs, and the Government could not possibly give it any encouragement, They had, however, called Icho Imperial Economic Conference to consider the means of increasing Imperial trade. Lord Arnold added the Government were in favour of any system of preferential tariff. LONDON, November 19. Lord Beaverbrook emphasised that the movement aimed at making the Empire a .single economic unit. The plan envisaged a tariff wall around the whole Empire,' but this depended upon the response from the rest of the Empire. Tlie Empire’s imports totalled twenty-four hundred million sterling, of which thirteen hundred million came from foreign countries.

Lord Beaverbrook believed that the Dominions would consent to the building up of an Empire free trade unit.