HC Deb 21 September 1915 vol 74 cc361-2

Now I come to another class of subject. I have already referred to the need to maintain our foreign exchanges and to cut down, so far as we can, expenditure on imported luxuries. I have also explained to the House the limitation, the necessary limitation, which is put upon possible action by the limits of the existing taxation machinery. I put forward now, however, a list of articles the importation of which may properly be restricted by means of duties, in time of war, on both the grounds I have mentioned, namely, foreign exchange and luxuries. So far as the duties do not put an end to importation, they may be a source of revenue not to be neglected. The articles to which I refer are motor cars and motor cycles, and parts thereof, cinema films—[MR. W. CROOKS: "Poor old Charlie Chaplin."]—clocks, watches, musical instruments, plate glass, and hats. Anyone who takes the trouble to consult the Returns showing the amount of our imports for the first six months of this year of manufactured articles, and the value of the amount retained in this country and the countries from which the articles come, will be able to form a very good reason as to why these particular articles have been chosen. On each of these articles I propose an ad valorem duty of 33⅓ per cent., or its equivalent, in the form of a specific rate, that is to say, on weight instead of on price. I anticipate a total revenue from the duty on these articles in a full year of £1,950,000, of which motor-cars account for £1,150,000, and cinema films for £400,000. These estimates of Revenue, however, are given under great reserve, as we have no experience what the effect of so high a rate of duty will be upon importation.

Sir J. JARDINE

Men's hats or women's?

Mr. McKENNA

All hats. I think it may be properly defined as "headwear." I have now concluded the whole of my proposals under the head of "Customs and Excise." The total additional Revenue for this year I estimate to be £11,500,000, and in a full year £25,070,000. If we add to this total for a full year the yield of the new Inland Revenue taxation, which I have already stated at £77,085,000, we have a total New Taxation Revenue of £102,155,000.