EMPIRE PREFERENCE

Greymouth Evening Star, 25 October 1945, Page 5

EMPIRE PREFERENCE

MAINTENANCE FAVOURED (Recd. 11.50 a.m.), LONDON, Oct. 24. The Federation of the Empire Chambers of Commerce attended by representatives of thirteen countries, including New Zealand issued a statement declaring that after conferring in London, it emphatically favoured Imperial preference. The statement added that the solution of Britain's war indebtedness problem was a prerequisite of the inauguration of the Bretton Woods plan. . . , The conference , reviewed Britain s transition throughout the war from creditor position of fourteen thousand million sterling to a debtor on capital overseas account, to the extent or two thousand million. sterling. Therefore failing a settlement; the problems were being reviewed in Washington, and Britain would be compelled to restrict imports. All nations should recognise the restriction was a wrong principle. The world burden of war costs could only be carried out by expanding world trade. In the Commons, Mr. Hopkin Morris asked Mr. Attlee if he proposed to introduce legislation to repeal the Import Duties Act and the Ottawa Agreements Act. Mr. Attlee said he was not yet. in a position to announce the intention of the Government as to the future of existing tariff legislation,