TNAG-0304-FCO40-340-Effects-of-tariffs-on-imports-of-cotton-textiles-to-UK-from--1971 — Page 87

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Wednesday, December 15, 1971

Mr. Haddon-Cave said the British side had also claimed that investment

decisions had been made by their industry on the basis that a tariff would

be in effect from January 1, 1972.

"I responded to this argument by saying that the Hong Kong industry

had likewise been basing their production and marketing decisions on the

1972. assumption that quotas would be abolished from January 1,

"I stressed that this had been the declared intention of Her Majesty's

Government up until only a few days before my arrival in London.

"I further stressed that the last minute and sudden decision to retain

quotas was disruptive to our trade and, as the present quota arrangement had

been constructed in a tariff-free situation, the rules governing the manner.

in which our limited access rights could be utilised clearly needed

modification," the Financial Secretary said.