§ Mr. Corfield
asked the Chancellor of the Exchequer what action he proposes to take on 1st July, 1960, in respect of the United Kingdom Revenue duties, in order to carry out the obligations of Article 6 of the European Free Trade Association Convention.
Under paragraph 3 (b) of Article 6 of the Convention, Member States have an obligation to eliminate any effective protective element in 177W "revenue duties", with the option of doing so either by successive reductions corresponding to those prescribed for import duties under Article 3, or on or before 1st January, 1965. Her Majesty's Government have decided to exercise the second option; and the protective elements in the United Kingdom Revenue duties to which Article 6 applies will be eliminated, therefore, on or before 1st January, 1965. Where this option is exercised there is an obligation to notify the Council of the European Free Trade Association on or 178W before 1st July, 1960; and the Council is being informed accordingly. I should emphasise that the protective elements in question are small in relation to the yield of the duties.
I do not intend to make any of these minor changes in rates during the current financial year. I am conscious, however, of the need for the earliest practicable action in this field and it is not my intention that the protective elements in all these duties should be maintained in full until the end of 1964.