ABSTRACT
British agriculture has experienced changes of policy during recent years comparable in magnitude with those in monetary and commercial policy. Investment overseas was also facilitated and demands for shipping and shipbuilding were stimulated, but British agriculture, in competition with the developing overseas areas, suffered almost continuous decline. This chapter outlines the chief features and effects of the new agricultural policy as they involve economic relations with foreign countries, whether by preferential treatment of home or of Empire producers. It deals with the relative merits of the methods adopted for the protection of British agriculture, the results already obtained, and the appropriate lines for future developments. Agricultural policy should be based upon a low tariff to afford some shelter from disturbances in the international market, together with marketing schemes to improve efficiency in distribution, and subsidies from national revenues for limited periods in special circumstances.
