The Gisborne Herald. IN WHICH IS INCORPORATED “THE TIMES.” GISBORNE THURSDAY, OCTOBER 25, 1945. BRITAIN’S NEED FOR EXPORT TRADE

Gisborne Herald, Volume LXXII, Issue 21853, 25 October 1945, Page 4

The Gisborne Herald. IN WHICH IS INCORPORATED “THE TIMES.” GISBORNE THURSDAY, OCTOBER 25, 1945. BRITAIN’S NEED FOR EXPORT TRADE

'PERHAPS the most obvious thing to say about Britain’s interim Budget is that it affords a striking example of how to reduce taxation and that the New Zealand Government in this respect has failed to give the lead on which it usually prides itself. But although the feeling lingers here that our Government could havedone better by the people than it did, the conditions in Britain and the Dominion are hardly comparable. Britain’s war expenditure has been astronomical and it was inevitable that, with the cessation of hostilities, reduction in taxation should be effected.

Despite Mr. Churchill’s warning about the “dark, tumultuous and tortured financial scene,” with which he apparently considers Dr. Dalton’s measures cannot cope, the British Budget has received a good “press.” It is realised that, whatever their shortcoming's, the Chancellor’s plans represent a sincere effort to relieve at least sonic of the heavy burden from the shoulders of a people who, m proportion to their population, have done more than the dwellers in any other Allied country to break up the forces threatening world civilisation. . ~ , , The Budget is largely a domestic affair on which little outside comment would appear apposite. What concerns New Zealand most closely is Dr. Dalton’s reiteration of Britain’s need to stimulate her export trade. It has been pointed out time and again by British financial experts that the country must export to. live. Imports, especially those from the dollar areas, must be restricted, and it is clear that the first essential to the recovery of the United Kingdom is not only the restoration but also the expansion of its export trade. If other nations, including the Dominions, realise tins and are disposed to collaborate in order to secure a general expansion of trade, all will be well. If they fail to see the force of Britain’s arguments, however, Britain may he compelled to adopt a policy embarrassing to New Zealand, among other countries, of ultimately refusing to buy from overseas countries except to the extent that those countries can buy from her. That is why New Zealand must very soon revise her import licensing or, as it is now called, import selection system. The pressure in some Home Country circles for a policy of increasing the livestock population carries a message which cannot be ignored by this primary-producing Dominion. _ „ Viewed from the international angle, the influence of Britain is greater than many people imagine. It is certain that she will play a big part in the revival of world trade. The British, through their experience as international traders in a big way, are better equipped than the traders of other nations for the tasks ahead, and it may not be too much to say that the lead in revival for the whole world’s benefit will largely devolve upon British enterprise. Possibly flic most important message of Dr. Dalton’s Budget lies not so much in the efforts to reduce taxation and at the same time to increase social benefits (which must come in the normal course of events) as in the strong hints of an intention to force the country into a more prominent position than ever on the scene of world industry.