STEEL INDUSTRY

Greymouth Evening Star, 16 April 1934, Page 7

STEEL INDUSTRY

BRITISH FIVE-YEAR PLAN

[BV CABLE PRESS ASSN. COPYBIGHT.] LONDON, April 14. Details of a five-year plan for the reorganisation of the steel industry in the Empire have been issued, and have it is understood, been approved by the British Treasury. It is expected that the Government will now agree to continue the duty of 33 1-3 pei- cent, on imported steel, which duty is due to expire in October and which was imposed two years ago. The continuance will be on condition that there is complete control of the steel industry in every part of the Empire.

The federation in the industry will be empowered to control the imports by quotas, to order independent tariffs for five years, to secure co-ordination in every iron and steel enterprise in the Empire, and to recover lost world ■ markets. The “Daily Telegraph” understands ’ that a company will be formed foi* the delevopment of exports, and that ! through this company all sales will be made. A levy will be imposed on the Home trade deliveries to assist the ’ exports. Each affiliated association will , subscribe £lOO to meet expenses. Each Dominion member will subscribe ’ not more than £250. Each member ' who is not a Dominion member will deliver an annual statement of the wages paid, and the levies will be r based thereon.