§ 43. Mr. Peter Emeryasked the Chancellor of the Exchequer if he will make a statement on the future of the temporary import surcharge.
§ Mr. MacDermotMy right hon. Friend has nothing to add to previous statements on this subject.
§ Mr. EmeryCan the Financial Secretary give any estimate of the feather-bedding which industry is now obtaining in not having to compete because of the surcharge aspects? Is it not now a nonsense that this should have been originally described as a temporary import surcharge?
§ Mr. MacDermotNo, Sir. I hope that industry has not been regarding this as a feather-bedding measure but has been taking advantage of it so as to be able to face the removal of the charge with equanimity.
§ Mr. DuffyIs my hon. and learned Friend aware that some of the steepest increases in imports have been in just those categories covered by the temporary surcharge?
§ Mr. MacDermotIn some cases that is so, but it surely emphasises that we were right to apply the surcharge where we did.
§ Mr. Bruce-GardyneCan the Financial Secretary tell us how much longer he thinks the members of E.F.T.A. will tolerate this flagrant breach of the Treaty of Stockholm?
§ Mr. MacDermotI think our friends in E.F.T.A. are showing great understanding of our difficulties and also understand that it is our intention, which they accept, to abolish the charge as soon as our balance of payments position allows.