§ 6. Mr. Prescottasked the President of the Board of Trade if it is the policy of His Majesty's Government to retain the principle of Imperial Preference.
Mr. H. WilsonIt is a cardinal feature of His Majesty's Government's policy to maximise trade with the Commonwealth and to maintain and use Imperial Preference and all other appropriate measures. At the same time we are prepared, in concert with the other Commonwealth Governments concerned, to negotiate reductions of preferences, as well as changes in the United Kingdom tariff, in return for tariff concessions to our export trade which we consider to be of at least equal value.