§ 25. Mr. Channonasked the President of the Board of Trade what estimate he has made of the likely level of imports for the next six-month period.
§ Mr. ChannonDoes the President of the Board of Trade agree that the way the announcement of the partial removal of the import surcharge was made was rather unfortunate, with so much notice being given? Inevitably there will be an enormous backlog waiting to come in as soon as the surcharge is removed.
§ Mr. JayNo. That is not the view of those who have most experience of these matters. The change is only from 15 per cent. to 10 percent. and it is not expected that this will cause any dislocation.
§ Mr. A. RoyleWill the right hon. Gentleman again look at the position of Hong Kong, which is suffering very badly from the import surcharge? Would he consider making an exception for this Colony?
§ Mr. JayWe have considered that point very carefully, but, on the whole, our view is that it is best not to discriminate in the surcharge. As it is reduced—it is being reduced now—Hong Kong will benefit as well as other countries.
§ Mr. BarberIn the estimate of the level of imports which the right hon. Gentleman will have made within his Department, no doubt he will have taken into account the balance of trade on petrol and petroleum products. With a view to deterring an increase in the importation of these products, will the President of the Board of Trade give a categorical assurance that the Government will have no truck with the Motion tabled by some of his hon. Friends which has appeared on the Order Paper this morning advocating the complete nationalisation of British Petroleum?
§ Mr. BarberDoes this mean that the right hon. Gentleman is seriously considering this proposal?
§ Mr. JayNo. The Government have no such intention, but I do not like to comment on Motions before I have even read them.