WHAT IS BRITAIN’S PLAN?

Taranaki Daily News, 17 February 1933, Page 7

WHAT IS BRITAIN’S PLAN?

“TARIFFS KILLING TRADE” MR. LLOYD GEORGE’S ATTACK DEBT BEING EXAGGERATED RELIEF BY SUBSIDY FUTILE By Telegraph—Press Assn.—Copyright Rec. 8 p.m. London, Feb. 15. The House of Commons debate on unemployment was notable for the intervention of Mr. David Lloyd George, which was initiated by a back-bench Conservative motion demanding the encouragement of municipalities to undertake essential revenue-producing works. Sir E. Hilton Young (Minister of Health), accepting the motion,, said the Government was eager to assist municipalities to obtain loans for remunerative works but the system of subsidies for relief works had already proved futile in reducing unemployment. The Labour Government spent £200,000,000 on this form of remedy but unemployment increased by 1,500,000. Mr. Lloyd George’s attack covered almost' the whole field of the Government’s policy. He said the Government threw away £50,000,000 in trying to keep the sovereign at an artificial value. In seeking to reduce the adverse, trade balance it found a reduction of imports meant a reduction of exports. The search for a debts settlement had produced only a tentative agreement at Lausanne made without the consent of the creditor nation, the United States. The importance of international debts was being exaggerated; it was tariff barriers that were squeezing the life out of international trade* What would the Government propose to the international conference?. It could not demand a reduction, in foreign countries’ tariffs unless willing to reduce its own. Everybody was going to the conference seeking concessions. Mr. Lloyd George said there might be a catastrophe in America, Germany or elsewhere before the conference ended, which would produce panic. Had the Government any clear idea of what it would propose at the World Economic Conference or what it would do for unemployed if it produced no agreement?