The Old Deal for Iron and Steel The iron and
steel duties, which were due to expire next October, have now been extended indefinitely on the recommendation of the Import Duties Advisory Committee. The industry has enjoyed the shelter of protection for more than two years, and in consequence it has, of course, been able to improve its sales in the home market. In regard to the export trade the volume had fallen so low that the small recent increase can hardly be attributed to the merits of Protection. Certain industries, for which products of the iron and steel trade are raw materials, are profoundly dissatisfied. The fact ought to be faced that the iron and steel industry has been enabled to benefit greatly by the tariff assistance granted by the State, whilst refusing to submit to that thorough reorganization which, it was promised, was to be the condition of continued protection. The re- organization scheme submitted in March last year has been whittled down and deprived of its more essential features. Inevitably the question must arise whether an Import Duties Advisory Committee is a properly constituted body for dealing with the vast ramifica- tions and economic repercussions of such an industry as iron and steel. The Government should consider fortifying its decisions by setting up for iron and steel some such body as the Coal Reorganization Commission.
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