BRITISH FINANCE.

Dominion, Volume 5, Issue 1313, 16 December 1911, Page 5

BRITISH FINANCE.

LITTLE HOPE OF ECONOMY. By Telesmph—Press Association—Copyright London, December 11. In tho llouso of Commons, during tile Finance Bill debate, Mr. Austen Chamberlain (ex-Unionist Chancellor of tho Exchequer) complained that the House had not discussed finance tor three years. Mr. Lloyd-George, Chancellor of tho Exchequer, replied that economy was not a popular subject, and there was little hope of any reduction being made in tho expenditure. The House of Commons, which nlone could effect economy, always pressed for greater expenditure. If Parliament wanted economy it must mould its foreign policy in such a way as to render an increase of armamonts unnecessary. Tho Government hoped to reduce tho National Debt by ten and a half millions this year, making a reduction of eighty millions during its tenure of office. Tho Bill passed its third reading in tho House. STANDING COMMITTEE ON THE ' ESTIMATES. London, December 14. A deputation of members of the House of Commons has accepted tho Prime Minister's promise to set up a Standing Committee on tho Estimates, as requested in tho memorial recently presented from 211 members. THE END OP THE SESSION. London, December 11. Parliament will bo prorogued on Saturday and reassembles on February 11. j SPEAKER'S CERTIFICATE REFUSED, AN INTERESTING POIST. (Kec. December 15, 9.50 p.m.) London, December 15. The Speaker has withheld his certificate from tho Finance Bill, on the ground iat clauses aro attached to it giving the Houso of Lords tho right to reject it under the provisions of the Parliament Act. The provisions of the Parliament Act, passed in August Inst, with regard to j money Bills are as follow"( 1) If a' money Bill, having boon passed by the i House of Commons, and seut np to tUa ' House oi at least one mouth before the oncf of the session, is not passed ' by tho _ House <of Lords without amendment within ono month after it is so seut up to that House, the Bill shall, unless the House of Commons direct to the contrary, be presented to Vis Majestv and becomo nn Act of Parliament on the Royal assent twins signified, notwithstanding that the House of Lords havo not consented to the Hill. A money Bill means a public Bill which in the opinion oi the Speaker of the House of Commons contains only provisions dealing with all or any of the following subject—namely, the imposition, repeal, remission, alteration, or regulation o? taxation; the imposition for tho payment of ikbt or other financial purposes of charges on tlie Consolidated Fund, or on monnv provided by .Parliament, or the variation or repeal of any such charges; supply; the appropriation, receipt, custody, issue or audit oi nocounts of public money; tho raising or guarantee of any loan or tHe repayment thereof; or subordinate matters incidental to those subjects or any of them. In this subsection the expressions 'taxation,' 1 'public money/ and 'loan' respectively do not include any taxation, money, or loan raised b.v local authorities or bodies for local purposes. •, "(3) Thore,shall, bo, endorsed pn, every money Bill "wlicn 'it' is' sent up to tho House of lords and when it is presented to his Majesty for assent the certificate oi the Speaker of the House of Commons 6igned by him that it is a money Bill."