§ By the abolition of the Excise preference on light oils we have fulfilled the most important outstanding obligation under the E.F.T.A. Convention, but there are other Customs duties which still contain a very small margin of protection and which must, therefore, be dealt with by the end of this year. I therefore propose to complete the process begun in 1962. I will not weary the Committee by reciting the new rates at length—they are set out in the Financial Statement. The revenue cost of these reductions is negligible.