§ Mr. ASSHETONasked the Chancellor of the Exchequer whether, in view of the disturbance to the silk industry arising from uncertainty as to the maintenance or otherwise of the Excise duty on artificial silk yarn after next March, he can make a statement as to his intentions respecting that duty?
Mr. CHAMBERLAINI gave an assurance on 17th December last, in reply to a question by my hon. Friend that it was not my intention to propose the repeal or reduction of the Customs duties on1874W raw silk or of the Excise duty on artificial silk before the end of March, 1937. In view of the commitments facing the country in regard to defence, it will cause no surprise when I say that I now see no early prospect of being able to finance a reduction or repeal of these duties. I would add that if and when reduction or repeal appears to be practicable from the standpoint of the national Exchequer, I should then think it right to refer the matter again to the Import Duties Advisory Committee for reconsideration, having regard to the lapse of time since that Committee originally reported in 1934 in favour of repealing these duties.