asked the Chancellor of the Exchequer whether, in view of the continued devaluation of the dollar in terms of sterling, measures are contem- plated by His Majesty's Government to maintain the level of protection to British enterprise hitherto afforded by the tax upon imports commonly known as the McKenna Duties?
asked the Chancellor of the Exchequer if, in view of the continued depreciation of the dollar as against the sterling exchange, he will consider taking steps to adjust the tariff rates on commodities principally imported from the United States of America?
According to such information as has reached me the depreciation of the American dollar has not up to the present seriously affected British trade. I am, however, carefully watching the situation in all its aspects, and consideration will from time to time be given to the question whether, and if so what, action is necessary in the interest of this country.
Will the right hon. Gentleman be prepared to receive representations from different sections of British industry to show that they are affected by the devaluation of the dollar and that the competitive power they gained through the McKenna Duties will gradually disappear unless some further measures are taken?
Is it not the fact that in many cases this devaluation of the dollar has wiped out all tariff protection; and in these circumstances may I ask the right hon. Gentleman whether he will invite the Tariff Advisory Committee to give immediate consideration to the industries so adversely affected by these unexpected events?