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4. Ministers would, however, have to be presented with and
guided on options. These were:
5.
(i)
(ii)
to do nothing (but this was unlikely to be
acceptable to the Minister of Industry); (The CRF side of RiDTI may Romever press his option);
maintain the present quota system (plus tariffs);
(iii) an elastic modifiction of the Crosland formula
(iv)
:
making a choice probably before 1 January 1972 between
the imposition of country and global quotas pleading
Article 3 of the LTA (ie, a combination of the options
in paragraph 4 of Mr Ridley's minute of 2 November);
or a variant incorporating at the first stage/ a monitoring licensing system (subject to further
study of its feasibility) which would give immediate
warning of upsurges on which action could be taken
to impose quotas.
The submission would say that on man-made fibres there was
no need for immediate action unless an emergency stop-gap
operation was required. in which case we would invoke Article 19
of GATT. We should aim at consultations with the Six and
Thereafter
multi-laterally (probably in GATT) with a view to an
extension of the LTA to man-made fibres and the harmonisation
of a world textile policy.
6.
The draft submission would be circulated by Friday afternoon
at the latest and a submission to DTI Ministers next week. The
matter will then be put to the EPC.
j
(No date has been fixed but
this may have to be on 18 November t if Ministers 'wish to
say something in the debate (to take place towards the end of
this month) on the affirmation resolution on the tariff policy.
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17.