WORSTED COMMITTEE REPORT.

HC Deb 27 April 1926 vol 194 cc1823-4

16. Mr. RAMSDEN

asked the President of the Board of Trade if he has considered the Report of the Worsted Committee; and whether, in view of the depreciation in the value of the franc, he will consider the advisability of a duty being imposed on those goods which were the subject of this inquiry?

24. Mr. B. PETO

asked the President of the Board of Trade whether, in view of the fact that the Committee which considered the Safeguarding of the Worsted Trade recommended the imposition of a safeguarding duty of 122 per cent. in the event of further depreciation in the French and Belgian currencies causing unemployment in the industry and took French currency at 130 and Belgian at 107, and, as these exchanges are now approximately 145 and 136, he intends to take steps to impose the safeguarding duty of 12½ on imported worsted goods?

Sir P. CUNLIFFE-LISTER

I will answer these questions together. Having regard to the finding of the Committee that employment is not at present seriously affected, the Government have not proposed a duty in the present Budget. The Committee recommended that close observation should be directed to the future trend of currency fluctuation, imports and employment. This is being done, and the progress of the industry will he carefully watched

Sir H. CROFT

May I ask whether the attention of the President of the Board of Trade has been called to the facts given in yesterday's papers to the effect that the imports of manufactured woollen and worsted goods have been increased by £3,000,000 in three years, and is not this an adequate reason for the Government taking action?

Mr. REMER

Is the right hon. Gentleman aware that since the Report the French hank rate has recently fallen away seriously, and is not that a further reason for putting on a duty?

Sir P. CUNLIFFE-LISTER

What is being watched are three things—the fluctuations in currency, imports and employment.

Mr. REMER

Is it not also a fact that unemployment has increased, unemployment. in the worsted industry?

Sir P. CUNLIFFE-LISTER

That is a matter of opinion.