BRITISH TARIFF

Hokitika Guardian, 17 March 1932, Page 5

BRITISH TARIFF

SURTAX OPPOSED

FRANCO-HUNGARIAN AGREEMENT

(British Official Wireless.)

RUGBY, March 15

In the course of Parliamentary answers' to-day, Hon. W. C. Runcimau (President of the Board of Trade), said that the Government had made it clear to the French Government that they took exception, in principle, to the imposition of a French surtax on any British goods. The Minister also said that the question was being considered of making representations to the Portuguese Government regarding its recent decree increasing its duties by 20 per cent, on most descriptions of goods. In' the House of Commons, to-day, under the ten minutes’ rule, Commander Locker-Lampson was given leave to introduce a Bill to prohibit the importation of goods made by foreign forced labour.

The Bill was brought in, and was formally read a first time. , - In the House of Commons, Rt. Hon. W. C. Runciman was questioned as to a proposed Franco-Hungarian agreement to provide a clearing house arrangement for the mutual liquidation of their export trade. He said that, after all consideration, the Government had reached the conclusion that no clearing house system yet devised would be l of advantage to British trade. He did not think any such system would eliminate the handicap of the exchange restrictions in existence on the Continent.

BALANCE ASSURED

EFFECT OF CUTS AND TAXES

RUGBY, March 15. The revenue returns, issued to-night ,giving the figures to last Saturday, leave no doubt that a balanced budget will be successfully realised. During the last week, the deficit was reduced by £12,800,000 and ■ amounted at the end of .the week to £24,200,000, compared with £44,100,000 on the same date last year. The total receipts from inland revenue taxes since April 1 last, amount !to £411,700,000, leaving £39,300,000 •still to be collected to realise the revised Budget estimate of £451,000,000 Further receipts of £10,100,000 will bring the total of income and surtax up to the, amount estimated ,to be received in the year. Customs and excise receipts are £9,400,000 up on last year, compared with the estimated increase in the whole ~yw lM £7,6Q0,000. . j.,j v . '\ The total expenditure has amounted to £807,300,000, which is £24,700,000 lesg than that t 0 the corresponding date last year. The revised Budget contemplated a total reduction in .the , year of £16,200,000, hut the SuppleEstimates of £500,000 have since been presented. The floating debt was reduced in the week by £10,100,000, and now stands at £612,375,000, being £7,000,000 less than at the corresponding date last year.

NARROW ESCAPE.

BALDWIN’S ADMISSION

LONDON, March 16

Mr Baldwin, addressing the Ilford Conservatives, said the victory achieved in balancing the budget was a victory for the whole nation. “If 'the pound sterling had been broken six months ago,” he said, “when •we were borrowing to make ends meet, nothing could have saved this country from a tragedy similar to those suffered by the countries whose currencies collapsed.”

Foreign money six months ago was pouring out Of England. Now it. was pouring in. Though the export trade was bad they were better off than their competitors. The influx of foreign manufacturers, though exaggerated, was a real movement which should increase Trade. The public need not look for a Cabinet crisis or a premature breakdown of the National Government, which was pretty sound. They should work for the commonweal without thought of self.

SPENDING ABROAD DEPRECATED.

LONDON, March 15

In the House of Commons in answer to a question, the Chancellor of the (Exchequer, 'Mr N. Chamberlain, that until our situation has fully been consolidated, it will remain preferable in the national interest that the money " for holiday travel should be spent m (Britain rather 'than abroad.

Ottawa conference

t RUGBY, March 15. X prime' Minister, to-day, stated ' J t almost immediately after Government was formed, a Cabinet Committee was appointed to supervise the preparations for the Ottawa Conference, 'So far as the Government in the United Kingdom was concerned, it had been continuously at work since then The composition of the- United , Kingdom delegation to Ottawa had not )r yet been considered by 'Cabinet,