HIT BY TARIFF
AUSTRALIAN REVENUE DROPS £5,000,000 HOPES FOR INDUSTRY United P.A.—By Telegraph—Copyright SYDNEY, Monday. The Federal Treasurer, Mr. E. G. Theodore, replied to criticism of the new tariff today. He said he was well aware that there would be a serious fall in customs revenue owing to the tariff increases and restrictions. Air. Theodore said he anticipated that the reduction would aggregate £5,000,000. Some means would have to be taken to bridge That gap. The adverse effect on the tariff on importing houses would be more than counterbalanced by increased activity in Australia’s industries. “We were forced by economic circumstances to take drastic action,” said the Minister, “but we are not aiming at any country in particular.” Speaking at a luncheon connected with an exhibition of wool products, Mr. Theodore said luxury importations into Australia amounted to £27.000,000 a year. Most of the importations could be well done without.
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Sun (Auckland), Volume IV, Issue 942, 8 April 1930, Page 9
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150HIT BY TARIFF Sun (Auckland), Volume IV, Issue 942, 8 April 1930, Page 9
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