TARIFF PROPOSALS

Hokitika Guardian, 5 February 1932, Page 6

TARIFF PROPOSALS

10% AD VALOREM MR CHAMBERLAIN OVATED, (United Press Association—By Electric Tek graph —Copyright.) (Received this day at 11.15 a.m.) LONDON, February 4. In the Commons, Mr Neville Chamberlain announced ten per cent, ad valorem duty on all imports, except wheat; and ten on raw cotton and wool. The existing tax on tobacco and sugar and the McKenna safeguarding emergency duties continue. Neither general nor additional duties apply to goods from the Dominions and India before the Ottawa Conference. All products from the colonies are completely exempted. The free list includes meat, bacon, and fish. Mr Chamberlain received an ovation from a crowded house, the visitors including the Prince of Wales, Duke of York, and Prince George. He said the adverse trade balance had been mounting at the rate of two millions per week, before the emergency duties. Trade was definitely but partially recovering. There was a better feeling but they had by no means turned the corner. Other countries would be forced off gold, turning increasingly to sterling as a measure of value. A world system of moderate protection scientifically adjusted to the needs of industry and agriculture would he used to negotiate with foreign countries, and offer advantages to the Overseas Empire; An advisory committee to advise whether the duty of ten per cent, on non-essential imports should he varied would be empowered to order permanent or temporary increases, or a. revocation of duties, subject to Parliament’s confirmation up to an additional one hundred per cent, which might be charged on goods from countries with a discriminating tariff against Britalin. The proposals did not represent a compromise between protectionist and free . traders in the Cabinet. They had agreed to difFer. He was convinced the plan would bo accepted as a reasonable and practicable one, on which hopes could he based for gradually rebuilding the prosperity of the country.