TEN PER CENT DUTY

Rotorua Morning Post, Volume 1, Issue 141, 6 February 1932, Page 3

TEN PER CENT DUTY

Assn.-

VHEAT, TEA, RAW COTTON- AND WOOL ARE ALONE EXCEPTED ' JOMINION PRODUCTS EXEMPTED In the House of Commons, ,Mr, Nevfile, Chamberlain (Chanellor of the Exchequer) announced a 10 per cent. ad vaiorem uty on all imports except wheat, tea, raw cotton ; qnd wool.. ,The xisting tobacco and sugar McKenna safeguarding emergency !uties continue. Neither the general nor additional duties. apply 0 goods from the Dominions and India before ,the Ottawa Conerence. All products from the colonies also are completely exmipted. The free list includes meat, bacon and fish.. . 4 A sensational development of the debate was an attack upon !ie proposals by Sir Herbert Samuel, Secretary for State and Home iffairs. An attack of this nature by a Minist.er, on a matter- of lovernment policy, is regarded as unprecedented.

-By Telegraph— CopjTight).

leceived Feb. 5, 10.10 a.m.) LONDON, Thursday. Chamberlain received an ovarom a crowded house, the visiticluding the Prince of W^les, jke of York and Prince George. Chancellor said the adverse balance had been mounting at te of £2,000,000 a week before nergency duties were Jmposed. rade was definitely, but partecovering and there was a beteling, but they had by no means 1 the corner. Other countries be forced off gojd, and would ncreasingly to sterling as the re of value. ;ystem of moderate protection, ifically adjusted to the needs of ry and agriculture, would be 0 negotiate with foreign counnd offer advantages to the overImpire. to an additional 100 per cent. be charged on goods from :ies with discriminating tariffs t Britain. proposals did not represent a omise between the protectionid free traders in the Cabinet; sad agi'eed to differ. The Chanwas convinced the plan would epted as a reasonable and prac1 one on which hopes could be for gradually rebuilding tbe irity of tbe country-, The Advisory Committee - . Chamberlain explained that the mdent Salaried-Advisory Comivould consist of not fewer wo or more than five members

ould devote its full time to conlgwhat additional duties should posed, and to studying the d interests of trade and indusChamberlain recalled that when itional Government was formed > with a mandate to apply an iudieed mind, free from all j to a restoration of confidence country's financial stability and me plans for ensuring a favouralance of trade. He did not bethat anywhere else in the could there have been such icrificing and devoted patrioti had been shown by the Britition during the last few s. Steadiness of Sterling Chamberlain mentioned tbat ternal purchasing power of the was twenty shillings, and Britain went off the gold [td, the cost of living had only two points and was actually six below that of a year ago. steadiness of sterling was the ossible indication of confidence poad in Britain's future. This ess had been fortified by the of England's recent repayments foreign credits without drawdher upon gold reserves. f'ernational and National. Chancellor referred to the enI growfih of trade restrictions 'er the world which impposed Mrriers on British trade. Many itain's problems were internatcharacter and could only be ;With by willing co-operation other nations. Other problems Hthin their own control. the last two years while jtoports remained practically ?ary their exports had decreas^early 38 per cent. Such figurohlished the necessity for action. •y desired to correct the trade £ hy diminishing imports and ating exports, and to fortify Nance with fresh revenue raisi^ethods which put no undue ? upon any section of the comy.

■y Pi'oposed by a system of ate protection, scientifically adto industry and agriculture, to ^ to Britain's own factories ?fds work which was now done |ere. fas prudent to be armed with !®ent at least as effective as yhich might be used to discri- | against British trade in other i-es- They yvislied too, to use Pportunity of offering advant0 fhe countries of the Empire ivantages which they w.ere now » and which in the near fuNy may give in retqrn. They Sd they had a policy which would Pe^hope and new heart to Brif give rise to a new spirit of : and co-operation throughout tapire. pfying the proposal given i'Vi Chancellor .said: "Where :s an existing duty the article 1

thus dutiable will be subject to the 10 per cent. general tariff." Regarding the placing of wheat on the free, list he reminded. the v House of the Government's intention to deal with it by a quota system. • « . On the free, list would also ,b q found the ra-\V; materials of, the- two . great textile industi-ies — raw cotton and raw wool. Tea was included on the free , list because it was considered more eonvenient to. deal with it ip, coqjunc,t|qn with other beverages such as coffee and cocoa. As in.the ordinary. course with the budget in reference to the superstructure of ad vaiorem duties, there would be additional duties on non-essential articles, such as lu'xuries or goods, which could be. produced in sufficient quantities at Home. These would be dealt with by Treasury orders after consultation with the . departments concerned. It would be the function of the advisory committee to consider the c'rcumstances of such articles in the light of general interest of trade and the. community. The Government intended to approach the Ottawa Conference with the full determination to promote ai'rangements leadin g to a great increase in the inter-Imperial trade.