Australian Cuts In Imports

Press, Volume XCIII, Issue 28008, 30 June 1956, Page 9

Australian Cuts In Imports

LONDON. June 29. ‘‘The Times” today viewed the Australian import restrictions as underlining the basic intention of the Australian commercial policy of encouraging domestic industry by strong protective measures.

“Australia, although enjoying an extremely high standard of living, regards herself as an underdeveloped country.’’ “The Times” said.

“Hence her resort in an increasing degree to the weapon of quantity controls in international trade, which most developed countries have been progressively abandoning.”

The “Scotsman” said that the Australian decision was a severe blow to Britain.

“If our exports to Australia are to be stepped up. closer regard will have to be paid to her needs,” the newspaper said.

Other comments were:—The “Manchester Guardian”: Experience during Hie last four years suggests that a likely outcome of the increased protection which the exclusion of foreign competitors gives to Australian industries is a further rise in internal costs. The longer this process goes on the closer will Australia get to the point when only a drastic devaluation can save the day.

The “Financial Times”: There would be greater confidence in the likely efficacy of this measure, if the leasons for the failure of the earlier import cuts to produce their intended effect had been properly established and determined efforts made to remedy the administrative defects responsible for the failure.

British Coast Guards. — British coast guards saved 341 lives in the year ended March 31, the Ministry of Transport disclosed yesterday. Life-saving action was taken on 721 occasions after ships or aircraft were reported in distress. —London, June 28.