TO COMBAT EXCESS

Evening Post, Volume CXII, Issue 120, 17 November 1931, Page 9

TO COMBAT EXCESS

IMPORTS INTO BRITAIN

EMERGENCY POWERS

RUNCIMAN ANNOUNCES

DUTIES UP TO 100 PER CENT*

(British Offldal Wireless.) ' (Received 17th November, 11 a.m.)] • RUGBY, 16th November. In the concluding, day's debate o«| the Address in the House of- Com* mons die President of the Board oil Trade, Mr. Walter Runciman, mad<s his anticipated statement on thej Government's plans for dealing withj abnormal importations. He announced that a B;ll empowering lM Board of Trade to issue orders inn posing duties not exceeding 100 pe^ cent, on manufactured and mainly] manufactured articles would be introduced immediately and passed through all' stages by Thursday* These emergency powers would las| for six months. Mr. Bunciman explained that Uj anticipation of possible changes iaj British fiscal policy there had been an) abnormal volume of importation. Twdj years ago, when trade was active, th* importations of Class B or manufac. turcd and mainly manufactured article* were at the rate of £28,000,000 pet! month. For the first . ten , days oS November they -were at the rate o<j £.35,000,000. per month. . j TO MAINTAIN THE CURRENCY. • The Government had to deal .- witfcj each problem as it arose practically and without preconceptions. To, main* tain 'the currency they must prevent) the adverse trade balance from increas* ing. The only permanent way ofl restoring the trade 'balance was by ex« paneling exports rather than, by cur« tailing imports, but the two ■" things] were not incompatible and. he hoped) that British purchasing capacity) abroad would be reserved for essem tials. To allow goods to be. imported! in the present abnormal quantities would defeat the ends of thG Cli'art«t c'ellor of the Exchequer, if he wei'4 later to impose duties. ' The Government, Mr. Buncima^ stated, had not included agriculture—• on the solution of the difficulties ofl which the Minister of Agriculture was) already at work—and had ■chosen Clasj| B, manufactured and mainly' manufac* tured goods, to which to apply thai Act, because' they-would bejable t<i 'make a large and effective selection} within this class without- detriment t<4 other industries and without increasing the cost of living. : • ■ Mr. Bunciman 's statement - was re* ceived with loud cheers by Govern* ment supporters. . < >