FINANCIAL TALKS

Ashburton Guardian, Volume 66, Issue 46, 4 December 1945, Page 3

FINANCIAL TALKS

END EXPECTED SOON SUPPORT FOR IMPERIAL PREFERENCE DOMINIONS TO BE CONSULTED (Special Correspondent N.Z.P.A.) (Rec. 11.15 a.m.) LONDON, Dec. 8. The British and American financial and economic negotiations in Washington are expected to conclude shortly, when an immediate statement will be made in the House of Commons. One outcome of these talks, it is observed, is that Britain and the Dominions will almost certainly discuss the fate of Imperial preference early in 1946. It is reported the Government’s reply last week to America’s draft terms for a loan of £1,000,000,000 stipulated that Britain could not commit herself to a reduction in Imperial preference tariffs or to a scaling down of her £3,500,000,000 war debt to the Empire without prior discussions. These discussions will be held informally. Their outcome will depend entirely upon whether or not America herself is willing to reduce import tar iffs. Meanwhile support for Imperial preference is said to be becoming stronger than at any time since its inception in 1932. There is also evidence to-day in many directions that Britain is more Empire-minded than ever before. This is based not only on the pride of the Empire’s record during the war, but also on the fact that neither Britain nor any part of the Empire can rank individually with Russia or America. But a strong and firmly-knit Empire is a world Power.