2 FEBRUARY 1929, Page 2

The Liberals, Mr. Baldwin went on to say, had left

kisses faire fir behind. Against the new Liberal policy the Unionist Government would set Imperial Preference and Safeguarding. He pledged himself, however, that there would be no taxes on food, and he wished to add that he thoroughly approved of the recent speech in which Mr. Churchill, though justifying Safeguarding, had described himself as a Free Trader. There was no necessary contradiction between the two positions. He was convinced that the derating scheme would be of enormous benefit to industry. What did the Government's opponents offer that could compare with it ? Nationalization, an increase of taxation, and interference with the Bank of England would certainly not make for confidence or security.

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