OTTAWA AGREEMENTS BILL

Hawke's Bay Tribune, Volume XXII, Issue 270, 29 October 1932, Page 8

OTTAWA AGREEMENTS BILL

SECOND READING PASSED BENEFITS OF IMPORT DUTIES. London, Oct. 27. Mr Runciman, in closing the second reading debate on the Ottawa Agreements Bill, said that Britain’s recent import duties had no effect on imports. Not a single European country had made a complaint. The motor car trade to New Zealand and 4ndia was benefiting considerably and discussions with Australia were proceeding. “Many members suggested that Ottawa would cripple us in making agreements with other countries, but instead we are already negotiating with five countries and ready to treat with the whole world, but cannot deal with all at once. “Britain as a market and centre of finance is a world force and must remain the most important and vital part of the Empire. Her policy as a creditor country with investments inside and outside is to cultivate commercial and financial freedom of activity, but this is limited by the policy of the rest of the world and the Dominions. We must build on the foundation of the Ottawa agreements the prosperity of the whole Empire.” The bill was read tfie second time by 346 votes to 77.