§ 52. Sir T. Beamishasked the Chancellor of the Exchequer what was the value of imports for which a Treasury licence for duty-free entry was granted in 1967; what percentage they formed of the total; and what he estimates as the approximate annual cost of exempting them from the proposed 50 per cent. deposit.
§ Mr. TaverneThe value of imports admitted duty-free under Treasury licence in the year ended 30th June, 1968 was about £59½ million, which represented about 0.8 per cent. of the total value of imports during that period. As the new import deposits are repayable after six months the exemptions do not involve any annual cost.