EMPIRE’S FISCAL CHANGES

Timaru Herald, Volume CXXXVII, Issue 19314, 15 October 1932, Page 17

EMPIRE’S FISCAL CHANGES

OTTAWA AGREEMENTS IN OPERATION

MIXED RECEPTION OF NEW SCHEMES British Official Wireless RUGBY, October 13. Prompt steps are being taken in various parts of the Empire to put into operation the measures to give effect to the agreements with Britain which were reached at Ottawa. In Canada, the new scale of preferences became effective, following the passing of a Government resolution, and are now in operation In South Africa, immediate effect has been given the agreement by administrative action. In Australia, legislation has been put in train to give effect to the new preference formula to be applied to a wide range of goods. In regard to goods already enjoying higher preferences than those covered by the formula, these remain, and although the extensive reductions in duties which is also contemplated can be made only on Tariff Board recommendations. some such reductions have, in fact, been made since the Ottawa Conference in New Zealand, where also the agreement takes immediate effect, subject, as in other cases, to Parliamentary approval. In England, special legislation is necessary, and the appropriate financial resolution will be moved when Parliament re-assembles on Tuesday, and be the subject of a two days' debate. The Bill will then be taken through all stages, so that it may reach the Statute Book by November 15, when the right of free entry for Empire products under the Import Duties Act ceases, and the new schedules to the various agreements become effective. Reception of Schemes. •Hudderficld’s hopes have been dashed. The worst fears of those who studied Canadian and Australian mentality are confirmed," said Mr Bennie Gray, president of the Huddersfield Chamber, when interviewed. "The Ottawa wool fabric concessions were equivalent to the lowering of a 7-foot wall one foot to enable a 5-foot man to look over it. A bright ray is that other countries are anxious to negotiate agreements with Britain." “The Yorkshire Post" says that the New Zealand agreement is a remarkable illustration of the success of the British delegation's advocacy for freer trade. It was known that New Zealand preferred to increase preferences by raising the foreign rather than lowering the British duties, but the agreement provides for an immediate reduction of all duties now levied on British goods by New Zealand. “The Standard,” in an editorial, headed "What Ottawa Left Undone," says that the imports of foreign meat were regulated, but South American chilled beef was left untouched. The avowed object of the meat quota is to improve the market here. How can that be done if South America is allowed to continue to export the same volume and lower prices?

AUSTRALIA’S ATTITUDE. HOSTILITY OP COUNTRY PARTY. United Pres* Association—By Electrlo Teleerapb—Copyright CANBERRA. October 13. The Minister of Trade and Customs, Mr H. S. Gullett, in a 22,000 word speech, in the House of Representatives, explained the benefits obtained at Ottawa. He said these exceeded in range those gained by any other Dominion. Dr. Earle Page, leader of the Country Party, attacked certain phases of the Ottawa Agreement. He said the full disclosure of the tariff schedule was very disappointing. He opined that Tariff reform was farther off than ever. There was little hope of a reduction in the cost of living and production. SATISFACTION IN INDIA. FISCAL FREEDOM WON. United Press Association By Electric Telegraph—Copyright CALCUTTA. October 13. The Government of India relcasrd the report of the Indian delegation to Ottawa. The text of the trade agreement with Britain, which gives complete freedom to the new Government of Federal India to determine its own fiscal policy caused great satisfaction. AUSTRALIA’S CONCESSIONS. STRONG PROTESTS FROM QUEENSLAND.

United Press Association By Electric Telegraph— Copyright (Received October 14, 10.30 p.m.) MELBOURNE, October 14. Under the terms of the trade agreement between Britain and Australia and affecting Crown Colonies, the tariff having been reduced from 8,4 to 2 6 per cental, the quantity to be limited to 40,000 centals per year, which

it is officially believed will not interj fere with the locally grown banana | trade.

Queensland growers, however, are making a spirited protest. They declare it savours of. political vendetta.

RECEPTION IN LONDON. VARIED INTERESTS VOICE DECISIONS. JnHsd Press Association—By Fiectno Telegraph—Copyrlgtt t LONDON, October 13. Anglo-Australian business circles generally express satisfaction at the Ottawa agreements, which they believe ought to be of mutual benefit, but leading meat importers express the opinion that there is unlikely to be any great effect on Australian trade in 1933, particularly as the Argentine is permitted to send the same quantity of chilled beef as hitherto. Regarding mutton and lamb, although imports from the Argentine are reduced, this is unlikely to have any effect on prices here, for Argentine shipments are already declining owing to the low prices obtainable, chiefly on account of the heavy cold stored stocks of Australian and New Zealand. The Federation of British Industries Is calling a special meeting of the Empire Committee to discuss the Ottawa schedules. Mr Guy Locock, director of the Federation, declares that a cursory examination of the proposals shows that opportunities are given to many British industries. Butter importers regard the duty of 15 - per cwt oh foreign butter as likely to b? of considerable assistance to the sales of Australian and New Zealand, rs it is expected to cause a material r T-ct’on in Argentine, Danish and other Scandinavian imports, which is very essential in view of the large prospective supplies of Australian and New Zr aland, but these are so large that an improvement in prices hardly seems probable.

LABOUR OPPOSITION IN AUSTRALIA.

WERE DELEGATES OUTWITTED? United Pres* Association —By Electrlo Telegraph— Copyright CANBERRA, This Day. Criticising the Ottawa agreement, Mr J. H. Scullin said that Mr Gullett's declaration that Article XII was an indispensable condition of the Ottawa agreement would arouse nationwide hostility. No one who believed in the right of Australian self-govern-ment would accept the conditions laid down.

Mr M. P. Forde, formerly Minister of Customs in the Scullin Government, said it was very evident that the Australian delegates were completely outclassed at Ottawa by the British delegates.