PROTECTION

Hokitika Guardian, 25 October 1932, Page 5

PROTECTION

BRITISH INDUSTRY IRON AND STEEL TRADES (British Official Wireless.) RUGBY, October 21. The report of the Import Duties Advisory Committee with regard to iron and steel duties has been issued. It is accompanied by a Treasury older for the continuance for a further period of two years of the duties now in force. The Committee states that such continuance is to be subject to satisfactory progress being made m the preparation of a scheme of reorganisation and in putting the approved schfime into force. The first report by the National Committee for the iron and steel ,industry, which was appointed to work out schemes for reorganisation and develop, ment, draws attention to the severity of the effect of tiie general industrial depression on the iron and steel industries of the whole world and to the intensified international competition, which is the result. Statements by authoritative representatives of t-h e great Con. inental organisations of iron and steel manufacturers are cited to the effect that export saies this year have been at prices far below the cost of pro* auction.

Before the adoption of protective measures the British industry was suffering from this uneconomic competition to an exceptional degree owing to relatively higher standards of wages and Inborn -conditions. The National Committee urges some greater measures of assistance in regard to tariff protection for a limited number of products .and th e removal of uncertainty about the duration of the existing duties.

The Import, Duties Advisory Committee shares N the National Committee’s views oil the difficulties which uneconomic foreign competition puts in the way of reorganisation and on the desirability of removing any uncertainty regarding the continuance . of- a protective policy. For the present no increase in the existing level of •' protection is recommended, but if any 1 when a satisfactory, reorganisation scheme is ready and foreign dumping ha s not eased, the Committee will proceed to recommend such further protective measures as may be necessary.