§ Mr. W. GRAHAMasked the Financial Secretary to the Treasury whether he is now in a position to make any announcement in regard to the exemption from Key Industry Duty of toys containing dutiable parts of trifling value, as foreshadowed in his reply to the hon. Member for North Lambeth (Mr. Briant) on 19th December last.
Mr. YOUNGYes, Sir; waiver of duty has been authorised in the case of toys and fancy goods dutiable only in respect of parts of a value not exceeding 10 per cent. of the value of the whole article. Appended is a full statement on the subject:
It is the intention of the Government to include in this year's Finance Bill a provision to the effect that the Treasury may by Order exempt from duty any compound article liable to duty under the Safeguarding of Industries Act, 1921, where, after consultation with the Board of Trade, they are satisfied that—
- (1) the compound article would not be dutiable under that Act but for the fact that it contains, as an ingredient or part, an article liable to duty under that Act; and
628 - (2) having regard to the nature of the dutiable ingredient or part and to the smallness of its value in proportion to the value of the compound article, it is inexpedient that duty be charged.
The Treasury, in anticipation of legislation on the lines indicated, have authorised the Commissioners of Customs and Excise to waive payment of Key Industry Duty on toys and fancy goods which are dutiable under Part I of the Safeguarding of Industries Act only as containing dutiable articles as parts or ingredients and for which Customs entries were not passed before 1st January, 1922, provided that the value of such dutiable parts or ingredients is shown to the satisfaction of the Commissioners of Customs and Excise to represent not more than 10 per cent. of the total value of the whole article in each case