BRITISH FISCAL POLICY

Hokitika Guardian, 9 December 1930, Page 5

BRITISH FISCAL POLICY

MORE HOPEFUL OUTLOOK. Tlie return of the Conservative party to power next year, and an alteration in England’s fiscal policy, are predictions made bv Mr A .E. Odiin, of Auckland, as a result of the impression he ga.ned .luring the world tour from which he has just returned. Mr Odiin said the economic outlook in Great Britain was generally hopeful. “A prominent subject in England is tariffs,” said Mr Odiin. “1 believe the bulk of the people in England can see a sun ris.ng behind the clouds o) depression ; and that sun is the coming fiscal change. If I might be dogmatic and venture a prediction, 1 would say that there will he a general election in England next year, that Mr Baldwin will be' returned to power, and that Lord Beaverbrook will trim his so-call-ed Empire froe trade policy to make it coincide w'tli Mr Baldwin’s recently-de-clared policy. Lord Beaverbrook has sought to adopt the American idea of scrapping the old and establishing the new in tlie same way as a factory would be ripped down and rebuilt. But one cannot expect England to accept such a radical change without a good deal of thought and a deal of campaign ing. , PROTECTION FOR MANUFACTURERS,

•‘ln mv opinion-what England needs more unm Empire preference and reciprocity is action to protect her home markets for her own manutactuieis against the invasion of cheap foreign imports. Incidentally, if this were done our markets at Horne would be improved, because there would be more employment for English workmen and a greater purchasing power available for our products. That fiscal change Is coming. I flunk we, as a country, are entitled to ask Great Britain for^ preference, lmt first I would like to see Britain put her own house in order. The place is flooded with cheap foreign goods. They are of low price and low quality, and are a temptation to unnecessary spending by the people.” TIMBER IMPORTATIONS.

Referring to the free trade policy, Mr Odiin mentioned dressed timber, doors and similar goods which were imported into England free of duty, thus depriving British men of the work necessary to convert the rough sawn timber into doors, flooring and similar lines. The value of the manufactured doors alone imported into England annually uas nearly £2,000,000; hut if the timber for those doors were imported in the rough employment would be provided for a great many workers in England, the amount of wages being nearly £700,000. Under no circumstances was it suggested that England should put a duty on rough sawn timber, which, in that case represented the raw material for her factories,” WEAKNESS OF “DOLE.” The working of the British unemployment insurance scheme was being severely crit’C'ised in England, said Mr Odiin, and he believed that all political parties could detect weaknesses in that legislation. The Act would never he repealed, but he thought that amendments would be effected with the object of making the benefits less liberal. There was depression in Canada and America similar to that New Zealand was passing through, and in America there were some who were inclined to carry pessimism to a foolish degree, believing that no daylight could be seen. That, however, was not the general opinion. The general view in those countries and England was a hopeful outlook, the opinion being held that tlie bottom had been readied.