IMPORTS TO BRITAIN

Taranaki Daily News, 23 August 1930, Page 21 (Supplement)

IMPORTS TO BRITAIN

PROPOSED 10 PER CENT. DUTY. London, August 13. Although (he Financial News strongly opposes a proposed British tariff of 10 per cent, on manufactured imports, it says the real attraction to the Government would be the revenue of £75,000,000 which probably it would produce. It is most unlikely, however, that the plan will be adopted unless the Chancellor of the Exchequer, . Mr. Philip Snowden, is removed from that office, and of that there is no sign at present. The tariff proposal has been placed before the Government by Mr. 11. D. Henderson, an assistant-secretary of the Advisory Economic Council. The Financial News, which discusses it in a leading article, describes it as a red herring, but admits that this would be “superior to a piecemeal tariff, system, which always opens the way to malpractices and lobbying bv interested parties.”

The paper contends, however, that it is a thoroughly bad method of general taxation, and says it hopes the Government will not adopt this “dangerous will make little difference to unemployment.”