HC Deb 19 July 1927 vol 209 cc202-3
49. Mr. CAMPBELL

asked the Chancellor of the Exchequer whether his attention has been called to the inconvenience, damage, and loss caused to the wine trade through clearance from bonded warehouses being restricted for as long a period as three months; and whether he is prepared to introduce legislation reducing the maximum period of restriction from three months to one month?

The CHANCELLOR of the EXCHEQUER (Mr. Churchill)

I expressed regret in my Budget Statement that it had been necessary to cause inconvenience to the wine trade by imposing restrictions on clearances so early as the 1st February. But, as I pointed out, the rate of clearance at that date had become so abnormal that unless immediate action had been taken the revenue for this year would have suffered. I can assure my hon. Friend that there is no intention of imposing restrictions on clearances for a longer period than is essential in the interests of the Revenue, but I could not agree to limit the existing powers of the Treasury in the manner suggested.

Viscountess ASTOR

Is it not a fact that the greatest interest of this country is a greater output in industry, and that the more you release the wine trade the more production naturally goes down as was proved during the War?

Mr. CHURCHILL

I would not attempt to answer that question.