BRITISH BUDGET

Dominion, Volume 13, Issue 179, 24 April 1920, Page 7

BRITISH BUDGET

EXCESS PROFITS TAX / PROTESTS AGAINST THE INCREASE By Teleeraph—Prean Asaoclation-Oopyrleht London, April 21. The mercantile community is strongly opposing the increase in the excess -profits tax. Mr. E. Manville, M.P., president of the Associated Chambers of Commerce, ! at the annual mooting, strongly ' condemned the increase which, he said, was bound to handicap seriously the nountry's trade. The Council of the Federation of British Industries passed a resolution protesting agamst the tax. The National Union of Manufacturers is arranging a protest meeting at the Guildhall. A prominent financial authority states that while the increase may cause some diminution in the. flptation of new industrial enterprises, the falling-off will not be sufficient to improve the monetary position as affecting forthcoming colonial issues. . The tone of the Stock Exchange has improved on the impression that the proposals will be mollified, if not withdrawn. • Consols are quoted at .£46 10s. —Aus.-N.Z. Cable Assn. THE WINEMTIES ' CONSTERNATION AMONG FRENCH GROWERS. Paris, April 22. Tha Brifasli wine duties ha,v© caused consternation among the winegrowers. It is believed .that they practically amount to prohibition of the trade. The National Wine Association, hna been summoned to consider the situation.— Ans.-N.Z. Cable Assn.