HC Deb 08 December 1947 vol 445 cc147-9W
139. Sir P. Macdonald

asked the President of the Board of Trade what is the justification for the reduction of Imperial Preference agreed to at Geneva, consider-

will classify the type of imports and exports by value under main headings.

Mr. Belcher

Most of the information which the hon. and gallant Member requires is included in the reply which I gave to my hon. Friend the Member for Stretford (Mr. Austin) on Tuesday last, of which I am sending him a copy. The following statement contains the figures from May-December, 1945:

ing that these reductions have been conceded in perpetuity whereas the reductions in the United States tariff obtained by our negotiations in return are liable to be cancelled at some future date by the United States legislature.

Mr. Bottomley

The hon. Member appears to be under a misapprehension. The essence of the General Agreement on Tariffs and Trade is that it is a mutually advantageous bargain. In the unlikely event of the United States, or any other party to the agreement, cancelling their side of the bargain, clearly we should be free to deal with ours.