§ 68. Mr. LEVYasked the Chancellor of the Exchequer if his attention has been called to the fall in the value of raw silk since the Silk Duties were imposed in 1925 from 26s. per pound to 11s. per pound, approximately; if he is aware that the duty of 3s. per pound, which was approximately 11 per cent. in 1925, is now an ad valorem duty of 28 per cent., whereas the duty on the full manufactured 374 article remains at 33⅓ per cent. ad valorem; and in view of the unemployment in the silk industry, what action he intends to take to amend the Silk Duties?
§ The FINANCIAL SECRETARY to the TREASURY (Major Elliot)I am aware of the fall in the prices of raw silk since the duties were imposed in 1925. As regards the last part of the question, I am unable to anticipate the Budget statement.
§ Mr. LEVYIs my right hon. and gallant Friend aware that Great Britain is the only country in the world that imposes a tax on the prime raw material of the silk industry?
§ Major ELLIOTI have said that I cannot anticipate the Budget statement.
§ Mr. HANNONWill the Chancellor, in preparing the Budget, take into account the fact that employment in the silk trade since the imposition of the Silk Duties has fallen from 140,000 to 37,000?
§ Major ELLIOTThe Silk Association and the British Celanese Company have already sent a request for a revision of the Silk Duties, and this will be taken into consideration.
§ Mr. THORNECan the right hon. and gallant Gentleman say whether the ad valorem duty includes freight, commission, and insurance?
§ Major ELLIOTAll these duties are imposed on that basis in this country.
§ Mr. LEVYIs my right hon. and gallant Friend aware that France is at the present moment sending 40 per cent. of her total output into this country?