Imports (Hansard, 29 July 1965)

HC Deb 29 July 1965 vol 717 cc661-2 661

§ 9. Mr. Barber
asked the President of the Boa rd of Trade whether he will give the figures for the importation of goods covered by the 15 per cent. or 10 per cent. import surcharge over the last available seven months of 1964–65 compared with the same period of 1954–55, 1958–59, 1961–62 and 1963–64.

§ Mr. Jay
As the Answer contains a number of figures I will, with permission, circulate it in the OFFICIAL REPORT.

§ Mr. Barber
In view of the statement by the Chancellor of the Exchequer on Tuesday about limiting imports of manufactured goods, may I ask the right hon. Gentleman to tell the House what he now considers to be the prospects for reducing and eventually abandoning the import surcharge?

§ Mr. Jay
No. I can tell the hon. Member that the figures show that so far this year those imports not subject to the surcharge have increased, whereas those subject to the surcharge have markedly decreased. Therefore, we can say with confidence that the surcharge is being effective.

§ Mr. Barber
Would the right hon. Gentleman answer my question? I asked what prospects there were of reducing and eventually abandoning the surcharge? The right hon. Gentleman has made observations about this in the past. I should like to know, in view of the Chancellor's statement, whether there is any change in those prospects.

§ Mr. Jay
No, Sir. We shall reduce the surcharge as soon as the balance of payments position makes it possible.

§ Mr. William Clark
In view of the fact that when it was introduced the Government said that it would result in a saving of £300 million in imports, and as we have had it for eight months, can the right hon. Gentleman say whether that will be obtained or not?

§ Mr. Jay
The Government did not say £300 million, but so far the saving has been rather greater than we expected.

662

§ Following is the answer:

UNITED KINGDOM IMPORTS
Goods liable to the Temporary Charge on Imports^*
Period	£ million	Percentage of total Imports
November-May, 1954–55	333	15
November-May, 1958–59	432	19
November-May, 1961–62	681	26
November-May, 1963–64	926	30
November-May, 1964–65	917	29
^* The figures given do not exactly correspond to the categories liable to the charge, but represent a close approximation to them.