stage to weigh the views of industries and this makes it the more important that the Government should fully understand now where the interests of industry he.
4. Finally two reminders. First, quite apart from the economic balance involved, these negotiations do have a political importance which has to be weighed by the Government in looking at the balance of advantage of particular deals. Secondly the industrial tariff reductions will be spread over a number of years, possibly eight but possibly more, and are unlikely even to begin until 1980. In therefore assessing where the interests of industry lie it is necessary to think ahead seven or ten years and try to make good guesses on what things will be like then.
CRE1
Department of Trade
14 February, 1978