IRON AND STEEL INDUSTRY

Hokitika Guardian, 18 July 1932, Page 2

IRON AND STEEL INDUSTRY

DEVELOPMENT UNDER TARIFFS. NATIONAL COMMITTEE SET UP. . " LONDON, June 10. [ Important steps towards the rehabili-i tiation of the British iron and steel industry have been taken by the Import Duties Advisory Committee. A National Committee, under thle chairmanship, of Mr Charles Mitchell, chairman of Dorman Long and Co., is being formed to work out schemes for the reorganisation and development of the industry, now rendered possible by the protection of the 33 1-3 pier cent, tariff. Should the present abnormal foreign competition, continue, and provided the producers do their part in restoring th© industry, a permanent tariff is foreshadowed “sufficient to achieve .the object in view.” The new scheme for its revival uncpr the wing of the body appointed to draw up the tariff system was explained to representatives of forty leading producers by the chairman of the Commission, Sir George May. \ PUTTING THE TRADE IN ORDER. “The. main value of a tariff,” he said, “will be to afford the industry the opportunity of putting itstsilf .in order on the lines best adapted to the country and the diversified nature of the demands which have to be mist.” The producers, said Sir George, must work out their own plans of reorganisation, hut the Tariff Commission would not hesitate to criticise them if thlev. (thought them inadequate to meet; .the emergency. “A determined and .united effort, in which personal <w .sicjeratio'iis will have to be put aside, is essential,” he added. Sir George May emphasised that tire temporary duty announced on April 2nd. would he continued for a.s long as proved necessary, and that if the industry 'did its part the permanent tariff to be recommended would lm sufficient to achieve the object in view.

Tbe present import duty afflicting the iron and steel industry is one of 33 1-3 per cent.' imposed on ferromanganese, spiegel'eis n («■ cwst-i'on containing manganese'), sonri-finished steel, and certain rolling mill products. This duty came into forne on ,\p,.ji %tii.. and tlio Tmnort Duties Committee, recoin mended that it should be for a period ol three months, during which they would work out “proposals of a more permanent character.”