THE NEW DUTIES

Otago Daily Times, Issue 21531, 31 December 1931, Page 11

THE NEW DUTIES

HOW THEY WILL BE WORKED. (From Our Own Correspondent.) LONDON, November 18. It is understood that the Government, by its anti-dumping measure, hopes to protect the f. The tendency has been revealed during the last few weeks to rush goods. into this country for two purposes:— ■ 1. To escape the Customs duties which it was felt Britain was bound to impose, and 2. To transfer stocks held by foreign countries into capital in order to meet forthcoming debts. The object of the Bill is to forestall both these tendencies and to preserve jl right of way for a prudent and careful examination of the application of scientific tariffs and the stabilisation of the £. Last month the total imports of the country amounted to £80,684,501. The class of goods affected by the proposed new powers represented £27,284,715 of the aggregate. The Board of Trade will watch the course of trade from day to day, and will take action only where action is called for by the facts of the case. If it is found that certain goods are being imported at a rate in excess of the normal, the tendency will be checked by a duty. If the rate of importation in any particular case should amount to a flood, the machinery of prohibition will be brought into operation by the imposition Of the maximum duty of 100 per cent. The duties (which will be imposed by Board of Trade order and not by Order in Council) will vary according to the extent of the danger of abnormal importation. They will be designed to suit the individual case. Where the normal rate of importation is maintained in any class of goods and is not exceeded, no special action by the board need be expected. Some of the goods contained in the whole or mainly manufactured class are already subject to Customs duties—for example, silk, key industry goods, motor cars, films, clocks, watches, oil and petrol. If any of these already taxed goods are brought under the new Bill, the “ Runciman duties ” will operate in addition to the existing duties.