§ Sir J. SIMON
asked the Chancellor of the Exchequer what would have been the loss of revenue involved in the adoption of the respective Resolutions for extensions of Imperial Preference which 270W were negatived by the House of Commons on Wednesday last?
§ Mr. SNOWDEN
The estimated effect on the revenue in a full year of the adoption of the Preference Resolutions referred to is as follows:
Subject of Resolution Estimated Loss. £ 1. Abolition of duties on Empire figs, raisins, plums and currants 75,000* 2. Reduction of duty on Empire tobacco 450,000 3. Reduction of duty on certain Empire wines negligible 4. Stabilisation of Preference on sugar at ½d. per 1b 1,200,000 Total estimated loss 1,725,000 * Based on reduced duties to come into force on 1st August next.