HOW BRITAIN HELPS

Rotorua Morning Post, Volume 2, Issue 288, 30 July 1932, Page 5

HOW BRITAIN HELPS

(Press Assn.-

CASE OUTLSNED MOTHER COUNTRY'S ATTITUDE TOWARD RECIPROCAL PREFERENCES N.Z. HAS £26,200,000 BALANCE

— By Telegrapli— Copyright)

OTTAWA, Friday. Mr. Staniey Baldwin, the head of the British delegation has issued an important statement at the conference definmg Britain's attitude toward reciprocai preferences. He said: " "The British delegation has no intention of weighing meticulously benefits given or received, but it is anxious that the outside world shall realise the spirit animating us, as has been constantly and consistently displayed in our aetual dealIings with the Dominions. "Any suggestion that Britain has been backward in developing and assisting Dominion trade, or not fullj^ reciprocating Dominion eoncessions in the l'etter and in the spirit, is wliolly unwarranted. "The British delegation, appreciating fully the advantages received in Empire markets, entered the conference with the intention of making a full contribution to the still further extension of Empire trade. "We have stated frankly and fully to the Dominions, the articles on

which we desire further advantages in the Dominion markets and we will welcome an equally full statement as to the corresponding advantages, the Dominions seek in Britain's market. "The British delegation will examine these statements as received with an unprejudiced minj and an earnest desire to give efTect to the Dominions' wishes, and we are convinced that our own views will in turn be given equally favourable consideration." Change of Fiscal Policy Mr. Baldwin pointed out that the proportion of imports from the Dominions enjoying free 'entry exceeded 90 per cent. Only British Indian imports were appreciably below. Since Britain's change of fiscal policy only 30 per cent. of her foreign imports had been admitted free. Mr. Baldwin continued: Rcgarding British exports to the four principal Dominions there is to-day practically no free entry. Most preferences granted by Britain are a total remission of the duty payable by foreign goods. The following table shows the Dominion imports in 1930: — Australia: From all sources, £129,220,000; from the United Ivingdcm, £54,241,000; from other British countries, £15,509,000; from foreign countries, £5-9,470,000. New Zealand. From all sources, £42,663,000; from the United Kingdom, £20,023,000; from other British countries, £9,007,000; from foreign countries, £13, 433-, 000. Figures in 1S30 The following figures (all millions storling) include bullion, coin, and also include re-exports of Britain's imports in 1930: — From Canada 38.7 From Australia 70.5 From New Zealand 44.9 From South Africa 62.1 From Free State 43.1 From Newfoundland 2.2 From India 52.0 From Rhodesia 2.3 Total 315.8 Britain's exports in 1930 were: — To Canada 31.3 To Australia 33.0 To New Zealand 18.7 To South Africa 27.7 To The Free State 44.3 To Newfoundland 0.9 To India 61.6 To Rhodesia 2.6 Total 220.1 N.Z.'s Favourable Trade Balanee The visible balances (p'lus means favourable) were: Canada, pdus 7.4; Australia, plus 37.5; New Zealand, plus 26.2; South Africa, plus 34.4; the Free State, minus 1.2; Newfoundland, plus 1.3- ; India, minus 9.6; Rhodesia, minus 0.3; total visible balances in favour of Dominions, 95.7. These figures reveal two noteworthy points — Firstly, the visible trade balanee in favour of the Dominions is nearly £100,000,000; secondly, Dominion imports from foreign countries amounted to nearly £350,000,000. It is necessary to remember that the percentage duty is of great importance in assessing the value of preferenee. If it is to give material assistance preference must not he so high as seriously to restrict importation. The British delegation urges upon the Dominions that the ratio of duty should be so graduated as to give British products a reasonable chance of competing on even terms; also the duties against British products should he fixed for protective purposes no higher than necessary to give a fair chance to st reasonably efficient Dominion industry. Britain has 2,750,000 unemployed. Anything tending to check Britain's foreign exports must lessen her people's purchasing and saving powier, thus damaging the markets on which the Dorqinions largely depend for the consumption of their products. "The foregoing tables show:— . "1. That Britain 1ms been doing her share in encouraging the Dominions' trade and industry; ...... . '% That Britain takeg a yery large

proportion of Dominion exports, for many of which there would 1 seem to be no other available world outj,et; "3. That Britain has consistently facilitated the entry of these Domin- « ion products on the best . possihle terms and with the least possihle interference by .. Government .policy or Customs administration; "4. That Britain has been eager to give the Dominions extensive .preference wherever she found it pq.^sible to impose a tariff ; 1 "5. That Britain thus helped |he Dominions to build up , a suhstantiial favourable visible trade balanee, *. :