ADDITIONAL DUTY

Dominion, Volume 25, Issue 168, 12 April 1932, Page 9

ADDITIONAL DUTY

Suggestions Under New British Tariff ABNORMAL IMPORTS Offlclsl Wlrelesi. Rugby, April 9The first report of the list of recommendations by the Import Duties Advisory Committee will probably be made to the Chancellor of the Exchequer, Mr. Neville Chamberlain, early next week. The committee was set up under the Import Duties Act, and its first duty Is to make recommendations of additional Import duties above the 10 per cent, ad valorem imposed by the Act. The committee was also asked to give special attention to goods which are subject to a duty of 50 per cent, under the Abnormal Importations Act, which will expire next month. When the temporary Act comes to an end, all these goods will automatically become liable to the 10 per cent, duty, and the question for the committee to consider is which of them should be called on to bear an additional duty as luxury articles or articles of a kind which are being produced or likely to be produced in the United Kingdom in quantities which are substantial In relation to the United Kingdom consumption. The newspapers anticipate that next week's recommendations will be for a comparatively low rate of additional duty except in the case of purely luxury articles with the intimation that the proposals must not be regarded as final.

A report that there were definite proposals regarding the duties on iron and steel imported led to recovery on the Stock Exchange yesterday in the shares of the iron and steel group.