HC Deb 17 February 1970 vol 796 c184
4. Mr. Blaker

asked the Chancellor of the Exchequer if he will now reduce the rate of import deposits to 20 per cent.

The Chancellor of the Exchequer (Mr. Roy Jenkins)

No, Sir.

Mr. Blaker

Why not?

Mr. Jenkins

Because I believe the scheme is still serving a useful purpose. While I believed it right to reduce the rate of deposit to 40 per cent., one should proceed gradually in getting rid of schemes which serve a useful purpose.