GERMANY.

Press, Volume LX, Issue 18228, 12 November 1924, Page 9

GERMANY.

TAXATION REDUCED. BIG BUDGET SURPLUS. (BT CAM/IS—PB.SBB ASSOCUtfOS—C9ST*K«T) (BZOTSS'a MLXGBUIS.) BEBLIN, November 10. The Government has decided to reduce income-tax to between. 15 and 25 per cent, on incomes under 8000 marks annually, with further allowances for children. The business turn-over tax and the luxury tax also will be substantially reduced. These reliefs are possible in conseof the improved finanoial situation, due to obtaining loans under the Dawes schemo and the large excess of revenue Over expenditure in the national Budget. It is expected that the reductions mentioned, besides decreasing the cost of living, will increase Germany's export capacity, as it will be unnecessary to raise workers', wages, and export prices consequently can keep at a level which will enable exporters to compete successfully in the.world market. NEW ISSUE OF NOTES.

INFLATION AT AN END.

Uvmuux JUTS *.z. cum auocuboc.} LONDON, November 10.

The Berlin correspondent of the "Daily Express" sayß that new bank notes, RcicHmarknoten are being issued this week to supersede the temporary Kentenmarks, thus indiwiting the end 'of the catastrophic inflation, period. The newspapers boast that the German mark (gold) is quoted in Now York, for the first time for a year, at 23.80 cents, to tho hundred marks. The Finance Minister announces that the Budget for tho first .ialf of balances this remarkable duo chiefly to the most j tion. For the half-year toies yielded £165,000,000, mainly from commerce and industry. j