BRITISH CHANCELLOR'S WAR BUDGET

Dominion, Volume 8, Issue 2455, 7 May 1915, Page 6

BRITISH CHANCELLOR'S WAR BUDGET

SPEECH IN THE COMMONS SUMMER WILL DETERMINE THE LENGTH OF THE WAR London, May 5. In tbe House of Commons, Mr. Lloyd George, Chancellor of the Exchequer, in bis Budget statement, said that thero could be no doubt regarding the ultimate issue of the war. Only its duration was in question. Now was not tho time to base a financial policy on the whole year. Very much depended on the developments in the next two or three months' operations. '•"The summer alone will enable us to form a dependablo opinion on tho duration of the war. To the end of the financial year the war will cost three hundred and seven millions sterling. The income-tax last year realised £59,279,000, and the super-tax exceeded the estimate by eight millions. The National Debt is now £1,165,825,000. It is estimated that tho total revenue will be increased by £43,638,000, making £270,322,000, whereof spirits will contribute £23,400,000, beer £32,000,000, wine £2,350,000, and tea £9,000,000." „ MORE ABOUT THE NEW DUTIES COPING WITH THE LIQUOR PROBLEM. (Rec. May 6, 5.35 p.m.) London, May 5. Mr. Lloyd George (Chancellor of the Exchequer), in his Budget speech, said that he estimated that the increases in the beer duty -would produce £16,000,000, on the wine duty £1,346,000, and on the tea duty .£372,000. "The income-tax'alteration," he explained, "merely fulfils a pledge to correct an anomaly among the insurance companies to avoid the evasion of payment." It was estimated that tho propertv and income-tax and super-taxes -would produce £103,000,000. Referring to. the financing of the gigantic war cost, the Chancellor said that the ordinary margin of imports over exports was £130,000,000. This year it would be £448,000,000. Britain had practically to' finance the purchases of most of the allies abroad. "We are all acting together, which means that instead of financing the difference between £130,000,000 and £448,000,000, we must' finance a difference of £800,000,000. Every section of tbe House must accept responsibility with the Government for the war." The last thing lie desired, he added, was to embark upon a bitter controversy on tho drink question "I feel in every fibre of my being the seriousness of this task. I am not pessimistic, but I have never indulged in foolish hopes. Britain entered the war in a spirit of chivalry, and if she fails the prospect in Europe will be sad indeed. I am not wedded to any proposals on the liquor question. I only appeal for permission to cope with a difficulty which has been caused by liquor in the munitions areas." He denied that he had made an attack on workers generally. "I said from the beginning that the va6t majority of them were giving every ounce of their strength."

LOWERING THE ALCOHOL PERCENTAGE IN BEER. (Rec. May 7, 1.16 a.m.) London, May 6. Mr. Lloyd George lias informed a brewers' deputation, that it would to lieoessary to lower the alcohol percentage standard of beer. FRENCH VINEGROWERS ALARMED AT THE NEW DUTIES APPEAL TO THE FRENCH GOVERNMENT. London, May 5. French vignerons_ (vine growers) have held numerous meetings and protested against the ruinous effect the proposed Britisli ivine duties would hare. The French Government lias been urged to make representations on the subject to the British Government.