§ 44. Mr. Holtasked the President of the Board of Trade if he will remove or reduce the United Kingdom tariff on the importation of rayon staple fibre.
§ Mr. LowMy right hon. Friend is not prepared to recommend arbitrary removal of or reduction in any rates of protective duty, but, as he informed the hon. Member last week, there are procedures whereby interests concerned can apply for the lowering of protective tariffs.
§ Mr. HoltIs the right hon. Gentleman aware that this is not a question of improper removal? Is he further aware that Messrs. Courtaulds have a monopoly in the manufacture of rayon staple fibre in this country and that this year they had an increased profit of £3½ million? Does the right hon. Gentleman think that there is any possible defence for this company having a high protection of 37½ per cent. duty when he gives no protection to the cotton trade against its chief competitors?
§ Mr. LowThe point is that there are procedures whereby the interests concerned can apply for the lowering of pro- 194 tective tariffs. In fact, no application for the reduction or removal of this duty has been received.