• Short Summary

    BRITAIN'S NEW LABOUR GOVERNMENT IS TO IMPOSE A 15 PER CENT SURCHARGE ON ALL IMPORTS EXCEPT FOODSTUFF, BASIC RAW MATERIALS, AND UNMANUFACTURED TOBACCO, AS MEANS OF IMPROVING THE COUNTRY'S INTERNATIONAL BALANCE OF PAYMENTS.

  • Description


    TRANSCRIPT: BROWN: "AS YOU KNOW, WHEN THE GOVERNMENT TOOK OFFICE, ITS FIRST JOB SEEMED TO BE TO EXAMINE WHAT THE SITUATION WAS NOW, HOW IT HAS BEEN DEVELOPING OVER THE IMMEDIATE PAST, AND TO TAKE THE BEST FORECAST WE COULD BE GIVEN OF HOW IT SEEMED TO BE LIKELY TO DEVELOP IN THE PERIOD AHEAD OF US. IT WOULD BE PREFERABLE TO PROCEED BY WAY OF THE SURCHARGER - AND THAT WE ARE DOING. THIS SHOULD GIVE US A SUBSTANTIAL REDUCTION FAIRLY EARLY IN THE IMPORTS BILL, AND HAS, WE THINK, OTHER ADVANTAGES OVER ANY OTHER POSSIBLE SOLUTION (?). THE SECOND SHORT TERM ACTION IS TO OPERATE AS QUICKLY AS WE CAN THE STIMULATION TO EXPORTERS. WE HAVE BEEN MUCH IMPRESSED WITH THE NOMINAL THINGS THAT EFFECT THE SMALLER BUSINESSMEN - NOT REALLY SMALL BUT SMALLER - WHO COULD DO MORE EXPORTING, BUT WHO AT THE MOMENT DON'T. AND WE THOUGHT SOME EARLY AND IMMEDIATE HELPFUL WAY OF HELPING THEM IN THEIR PROBLEMS, AND THE EXPORT INCENTIVE SCHEME IS AN IMMEDIATE ATTEMPT TO DO THAT. THERE ARE, YOU SEE, OTHER IMMEDIATE PROPOSALS. ONE IS TO CARRY OUT A STRICT REVIEW OF ALL GOVERNMENT EXPENDITURE - PARTICULARLY IN THE GOVERNMENT USE OF RESOURCES, AND TO GET SOME OF THOSE RESOURCES RELEASED PARTICULARLY WHERE THEY ARE AT THE MOMENT BEING CONSUMED BY WHAT THE DOCUMENT CALLS ITEMS OF LOW ECONOMIC PRIORITY, BUT WHICH CARRY THE LABEL 'PRESTIGE' PRODUCTS. AND YOU SEE WE MENTIONED THAT WE ARE ALREADY DISCUSSING WITH THE FRENCH THE POSITION OF THE CONDORDE PROBLEM."



    CALLAGHAN: "IT CAN BE ARGUED BY THE PEDANTS THAT IMPORTS SURCHARGES OFFEND AGAINST SOME INTERNATIONAL OBLIGATIONS. WE TAKE THOSE INTERNATIONAL OBLIGATIONS VERY SERIOUSLY, BUT WE HAVE REASON TO BELIEVE THAT OTHERS ABROAD SHARE OUR VIEW THAT THERE ARE TWO HALVES. EITHER QUANTITIVE RESTRICTIONS OR IMPORT SURCHARGES ARE TWO SIDES OF THE SAME COIN AND THE FIRST REACTIONS WE GET ARE ENCOURAGING. WE BELIEVE THAT THIS ACTION WILL BE FULLY UNDERSTOOD AND COMPREHENDED THROUGHOUT THE WORLD. WE HAVE HAD ESPECIAL REGARD TO THE COMMONWEALTH INTERESTS IN THIS MATTER. QUANTITIVE RESTRICTION WOULD HAVE HIT THEM MORE HARDLY, ALTHOUGH I GO ON TO SAY THAT WE HAVE NOT ATTEMPTED TO DISCRIMINATE IN THIS MATTER. IN FACT, BY EXCLUDING FOODSTUFFS, RAW MATERIALS AND PROCESSED FOODSTUFFS AND TOBACCO, WE HAVE IN FACT, WE THINK, GOT ABOUT THE RIGHT BALANCE IN THIS PARTICULAR FIELD."




    Initials RM/V/BHH/OS



    Script is copyright Reuters Limited. All rights reserved

    Background: BRITAIN'S NEW LABOUR GOVERNMENT IS TO IMPOSE A 15 PER CENT SURCHARGE ON ALL IMPORTS EXCEPT FOODSTUFF, BASIC RAW MATERIALS, AND UNMANUFACTURED TOBACCO, AS MEANS OF IMPROVING THE COUNTRY'S INTERNATIONAL BALANCE OF PAYMENTS. THE SURCHARGE, WHICH OPERATES FROM TOMORROW, WAS ANNOUNCED AT A PRESS CONFERENCE TODAY (MONDAY) AT CHURCH HOUSE, IN LONDON'S WESTMINSTER, BY THE NEW MINISTRY OF ECONOMIC AFFAIRS, MR. GEORGE BROWN. THE NEW CHANCELLOR OF THE EXCHEQUER, MR. JAMES CALLAGHAN, ALSO SPOKE AT THE PRESS CONFERENCE.

    THE OTHER MEASURES INCLUDE AID TO EXPORTERS BY A REBATE ON SOME INDIRECT TAXATION WHICH COMES INTO THE COST OF PRODUCING GOODS FOR EXPORT. IN ADDITION, THE GOVERNMENT PROPOSES TO CREATE A COMMONWEALTH EXPORTS COUNCIL AND A PRICE REVIEW ORGANISATION. IT WANTS TO HELP SMALL FIRMS PLAY A LARGER PART IN EXPORTING AND TO CONSULT BOTH SIDES OF INDUSTRY ON WAYS OF INCREASING PRODUCTION.

    THE GOVERNMENT PROPOSES TO CARRY OUT A STRICT REVIEW OF ALL ITS SPENDING. IT'S STATEMENT SAID THAT FRANCE, WHICH IS DEVELOPING THE SUPERSONIC CONCORDE AIRLINER JOINTLY WITH BRITAIN, HAS ALREADY BEEN TOLD OF BRITAIN'S WISH TO URGENTLY RE-EXAMINE THE PROJECT.

    COMMENTING ON THE ECONOMIC MEASURES, MR. BROWN SAID:
    MR. JAMES CALLAGHAN ALSO COMMENTED:
    (TODAY'S GOVERNMENT STATEMENT FOLLOWED AN INTENSIVE SURVEY OF THE ECONOMIC SITUATION SINCE MR. HAROLD WILSON'S LABOUR GOVERNMENT TOOK OVER FROM THE CONSERVATIVE GOVERNMENT ABOUT 10 DAYS AGO. MR. WILSON WILL GO ON TELEVISION TONIGHT TO FURTHER EXPLAIN THE ECONOMIC PROPOSALS. THEY ARE EXPECTED TO BE INTRODUCED AT THE FIRST SESSION OF THE NEW PARLIAMENT.)

  • Tags

  • Data

    Film ID:
    VLVA594YQ27QIUCQGRKWX1LV7AWKQ
    Media URN:
    VLVA594YQ27QIUCQGRKWX1LV7AWKQ
    Group:
    Reuters - Including Visnews
    Archive:
    Reuters
    Issue Date:
    26/10/1964
    Sound:
    Unknown
    HD Format:
    Available on request
    Stock:
    Black & White
    Duration:
    00:03:32:00
    Time in/Out:
    /
    Canister:
    N/A

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