TARIFF PROBLEM

Hawke's Bay Tribune, Volume XXI, Issue 307, 11 December 1931, Page 6

TARIFF PROBLEM

DISCUSSION IN COMMONS THE ADVERSE TRADE BALANCE. DRASTIC REMEDIES URGED. By Telegraph—Press Assn. —Copyright. London, Dec. 10. In the House of Commons Major L. Hore-Belisha informed Sir R. Hall that the French Government, in reply to representations, justified the 15 per cent, surtax on British and Australian goods as a corrective of sterling depreciation. Sir R. Hall said: When tho franc stood at 240 wo did not do likewise. No reprisals should deter the imposition of duties to protect British trade. Mr W. Smithers: Will Mr Rumanian remind France of the amount wc let them off in war debts? Sir E. Hilton-Young, in answer to a question, said that apart from the French surtax the following alterations in foreign tariffs were expected to affect British trade: — Italy.—Surtax of 15 per cent., apart from coal and a few other items. Canada. —Custonft duties calculated at par of exchange. India. —Surcharge of 25 per cent, on practically all import duties. Argentina.—Ten per cent, ad valorem surtax on all importations. Tariff increases had also been ihiposed in Denmark, Finland, Poland and Uruguay. GENERAL TARIFF URGED. Continuing the debate on the Labour vote of censure, Mr L. Amery condemned the Government’s failure to adopt immediate drastic remedies to deal with adverse trade. As other countries had gone off gold, tho cost of living had not mounted appreciably, but when stocks became exhausted and tho pound fell further the cost of living was bound to rise and tho whole scale of production costs would rise. Then wo would either have to inflate or strangle tho country’s trade. Purely as an emergency measure, a general tariff to restrict imports must immediately be imposed. Plenty of information and examples existed. The only unpardonable crime would bo failure to act before it was too late. If the National Government could not act courageously and swiftly it must give place to another. He advocated a Cabinet of five capable of quick decisions.