HC Deb 14 April 1964 vol 693 c240

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.