Abstract
In mid‐1971 the European Community introduced a system of generalized tariff preferences for less developed countries, hailing its scheme as a ‘generous response’ to the needs of those countries. This paper explores tentatively how generous the European tariff preference scheme is, in terms of its likely stimulus to exports from and investment in the less developed countries. It also assesses the impact of the scheme on the assumption of United Kingdom membership in the Community. It concludes that whether Britain is in or out, the European scheme, based as it is on rather restrictive tariff quotas keyed to past trade data, will offer little help in furthering the economic objectives of developing countries.
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