EMPIRE TRADE

Gisborne Herald, Volume LXXII, Issue 21854, 26 October 1945, Page 3

EMPIRE TRADE

PREFERENCE PLEA HELP FOR BRITAIN RECOVERY FROM WAR LONDON. Oct. 24. The- Federation of Empire Chambers of Commerce, attended by representatives’ of 13 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 to the inauguration of the-Bretton Woods plan. . The conference reviewed Britain’s transition throughout the war from a creditor position of £4,000,000,000 to a debtor on capital overseas account to the extent of £2,000,000,000. Therefore, failing a settlement of the problems that are being reviewed in Washington, Britain would be compelled to restrict imports. All nations should recognise that -restriction was wrong in principle. The world burden of war costs could only be carried out by expanding world trade. In the House of Commons, Mr. Hopkin Morris asked the Prime Minister, Mr. C. R, Attlee, if he proposed to introduce legislation to repeal the Import Duties Act and 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 the existing tariff legislation.