§ 32. Mr. HANNONasked the President of the Board of Trade if he can give an assurance that the tariff of 25 per cent. on the import of machine tools into this country will be continued for a period of time sufficient to give British firms, prepared to produce foreign tools under royalty in this country and therefore employing increased British labour, the opportunity of expanding their production under the tariff?
§ Mr. RUNCIMANThe present rate of duty on machine tools is 20 per cent. ad valorem. My hon. Friend can rest assured that the efforts being made by certain manufacturers to increase the output of machine tools in this country would be taken into account in the event of any proposals arising for a reduction in the duty.
§ Mr. HANNONDoes my right hon. Friend mean by that answer that manufacturers of machine tools in this country will be justified in putting additional capital into this experiment?
§ Mr. RUNCIMANI do not see why they should not do so, with the present rate of duty, which is 20 per cent. ad valorem.