BRITISH FISCAL POLICY

Taranaki Daily News, 21 November 1929, Page 9

BRITISH FISCAL POLICY

OPPOSITION TO FREE TRADE. British Wireless. Rugby, Nov. 19. Lord Beaverbrook asked, in the House of Lords, if the Government would do anything to encourage the movement for the free trade within the Empire. Lord Arnold, replying for the Government, said they thought the prosperity of the Empire was more likely to bo achieved by their policy than by any scheme of Empire free trade, which could not be achieved without first reversing the fiscal policy of the Mother Country and making it a protectionist country. They had repeatedly refused to desert the policy of free trade. He challenged Lord Beaverbrook to produce the slightest evidence that the Dominions would come into the scheme, which would require them to reverse their fundamental systems of protection.

Ho said the scheme would mean a rise in the price of foodstuffs and the Government could not possibly give it any encouragement. They had, however, called an Imperial Economic Conference to consider means of increasing Imperial .trade. Lord Arnold added that the Government was not in favour of any system of preferential ’tariffs.