TARIFF PROBLEMS

Grey River Argus, 17 March 1932, Page 5

TARIFF PROBLEMS

BRITISH ACTION Causes Retaliation (British Official Wireless.) (Received March 16 at 5.5 p.m.) RUGBY, March 15. In the course of Parliamentary answers to-day, Hon. W. C. Runciman (President of the Board of Trade), said that the Government had made it clear to the French Government that they took exception, in principle to the imposition of a French surtax on any British goods. The Minister also said that the question was being considered of making representations to the Portuguese Government regarding its recent decree increasing its duties by 20 per cent, on most descriptions of goods. RUGBY, March 15. In the House of Commons, to-day, under the ten minutes’ rule, Commander Locker-Lampson was given leave to introduce a Bill to prohibit the importation of goods made by foreign forced labour. The Bill was brought in and was formally read a first time. OTHER CONTINENTAL RESTRICTIONS. RUGBY, March 15. In the House of Commons. Rt. Hou. W. C. Rnnciman was questioned a s to a proposed Franco-Hungarian agreement to provide a clearing house arrangement for the mutual liquidation of their export trade. He said that, after all consideration, the Government had reached the conclusion that no clearing house system yet devised would be of advantage to British trade. He did not think any such systhcm would eliminate the handicap of the exchange restrictions in existence On the Continent.

Balance Assured

. EPEE CT OF NEW CUTS AND TAXES. (British Official Wireless.) RUGBY, March 15. The revenue returns, issued to-night giving the figures to last Saturday, leave no doubt that a balanced budget will be successfully realised. During the last week, the deficit was reduced by £12,800,000 and amounted at the end of the week to £24,200,000, compared with £44,100,000 on the same date last year. The total receipts from inland revenue taxes since April 1 last, amount to £411,700,000, leaving £39,300,000 still to be collected to realise the revised Budget estimate of £451,000,000. Further receipts of £10,100,000 will bring the total of income and surtax up to the amount estimated to be received in the year. Customs and excise receipts are £9,400,000 up on last year, compared with the estimated increase in the whole year of £7,600,000. The total expenditure has amounted to £807,300,000, which is £24,700,000 less than that to the corresponding date last year. The revised Budget contemplated a total reduction in the year of £16,200,000, but the Supplementary Estimates of £500,000 have since been presented.

The floating debt was reduced in the week by £10,100,000, and now stands at £612,375,000, being £7,000,000 less than at the corresponding date last year.

NARROW ESCAPE. BALDWIN’S ADMISSION. LONDON, March 16. Mr Baldwin, addressing the Ilford Conservatives, said the victory achieved in balancing the budget was a vic- ' tory for the whole nation. “If the pound sterling had been broken six months ago,” he said, “when we were borrowing to make ends meet, nothing could have saved this country from a tragedy similar to those suffered by the countries whose currencies collapsed.” Foreign money six months ago was pouring out of England Now it was pouring in. Though the export trade was bad they were better off than their competitors. The influx of foreign manufacturers, though exaggerated, was a real movement which should increase trade. The public need not look for a Cabinet crisis or a premature breakdown of the National Government, which was pretty sound. They should work for the commonweal without thought of self. SPENDING ABROAD DEPRECATED. (Received March 16 at 7 p.m.) LONDON, March 15. In the House of Commons in answer to a question, the Chancellor of the Exchequer, Mr N. Chamberlain, said that until our situation has fully been consolidated, it will remain preferable in the national interest that the money for holiday travel should be spent in Britain rather than abroad.

OTTAWA CONFERENCE. (British Official Wireless.) RUGBY, March 15. The Primo Minister, to-day, stated that almost immediately after the Government was formed a Cabinet Committee was appointed to supervise the preparations for the Ottawa Conference. So far as the Government in the United Kingdom was concerned, it had been continuously at work since then. The composition of the United Kingdom delegation to Ottawa had not yet been considered by Cabinet. LONDON, March 15. “If the Ottawa Conference fails, the consequences will be disastrous to the Empire, which will have begun the process of disruption,’’ so Mr Amery told the King’s College Conservatives. “Free trade inhibtion, ” he said, “had killed the previous Conferences. It is rumoured that certain members of the Cabinet will resign if wheat

and meat preferences are granted to the Dominions, and they do not even wish to discuss the subject at Ottawa. Such a policy would be fatal. We must meet the Dominions more than half way.’ ’