THE BRITISH BUDGET

Dominion, Volume 13, Issue 177, 22 April 1920, Page 5

THE BRITISH BUDGET

— RECEPTION OF MR. CHAMBERLAIN'S PROPOSALS EXCESS PROFITS TAX CRITICISED (By Telegraph-Press Association-Copyright London, April 20. The. Budget was received with much criticism from thp Government benches. There was probably more support from tlio Opposition than from the Government side, though the Opposition members deplore the dropping of the Pre.Brier's land taxes. The main, criticism is directed against the increase ill the excess profits tax, which surprised many people who expected a reduction if rot the abolition of the tax. Members of the House of Commons and others representing trading and manufacturing interests declare that the tax will hamper the country's reconstruction and causa a rise in prices which will damage the country's export, trade. Sunpi.rters of the tax consider that prices will not be affected, as lirices rose aftei the tax had been reduced hv half. Mr. Chamberlain's proposals are, on the whole, regarded as a courageous attempt to adjust the country's incomings _ end outgoings and to reduce the National Debt.—Aus.-N.Z. Cable Assn. (Rec. April 22, 0.30 a.m.) London, April 2t. Mr. J. R. Clynes lamented the unduo war-timo borrowing, and maintained that none of Mr. Chamberlain's proposals would diminish the cost of living: on the contrary they were more likely to intensify the situation. Mr. Clynes congratulated Mr. Chamberlain on the excess profits proposals, but rejected the prolonged scheme for the redemption of the debt, which could bo wiped cut in a few years by the continuance of a little sdf-sacrifisc. The removal of the debt would give contentment not only to the poor, but to many who were not classed ns tjoor. Mr. J. A. R. Marriott expressed the opinion that the Budget would have an admirable effect, demonstrating to the whole world the country's confidence in . the national finances; therefore, it nould react in the most favourable manner on British credit.—lmperial News Service. Mr: asquith's views. (Rcc. April 21, 7.15 p.m.) London, April 20. In the House of Commons, during the debate on the Budget, Mr. Asquith -declared . that the wine duty was worthless iii view of the small revenue it would produce, and be the eauso of illfeeling in ■ tho wine-producing countries. He emphasised the need of greater public economy, and criticised tho smnllness of tho provision for reduction of tho floating debt. Othorwise ho warmly approved tho Budget.—lmperial News Service. FRENCH CRITICISM OF THE WINE DUTIES. (Epo. April 22, 0.15 a.m.) Paris, April 21. I'ronchmen point out that tho Budget proposals are a poor return for a'ri that France has done for England. It would be botter if thore were more (vines and less spirits.—United Service.