On This Day
03 March 1931
Sir John Simon abandons free trade
In an interview with the editor of the Sunday News on the budget deficit, Simon gave the first public indication of his shift in thinking on the issue which was to divide the Liberal Party in the coming year. While not wishing, Simon declared, to abandon Liberal principles, ‘I, at any rate, am not going to shut out of my mind the consideration of fiscal measures which may be found to be necessary, even though they involve steps which in times of prosperity and abounding trade Liberals would never contemplate’.