BIG DEFICIT AHEAD.
FRENCH FINANCIAL OUTLOOK.
By Teleiraph—Press AEeoclatlon-Copyrifrht
(Rec. December 29, 11.15 p.m.)
Paris, December 29. In tho French Senate, replying to 3f. Ribot's (ex-Premier) attacks M. Caillaux (Minister for Finance), stated that m 1915 tho Budget would Bhow a deficit of £18,000,000, not including a voto of ! £6,000,000 for Moroccan expenditure. Tho Government, he said, proposed to revert to the only safe system of financo in a single exhaustive Budget. This Would be doue by means of short-term loans. He explained that the French income tax might yield £4,000,000 towards the deficit, and tho remainder would fall on tho favoured classes, similar to tho practice in Germany. The Budget ought first to bo voted, and then a programme of extraordinary expenditure Authorised. The Gou-rn'ment would thereafter deal with indispensiblo new taxation, and the loan proposals would follow.
M. Caillaux added that in 1914 the deficit would. be between £31,000,000 and £34,000,000 sterling.
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Dominion, Volume 7, Issue 1944, 30 December 1913, Page 5
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154BIG DEFICIT AHEAD. Dominion, Volume 7, Issue 1944, 30 December 1913, Page 5
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