BRITAIN’S BUDGET.

Hokitika Guardian, 4 May 1917, Page 1

BRITAIN’S BUDGET.

Immense Figures

(Australian & N.Z. O-tble Association and Esc ter.) LONDON, May 2. In th© House of Commons, non. Bonar Law, in delivering the Budget, said : —“During the war £822,000,000 had been advanced to the Allies auu £142,000,000 had been advanced to the Dominions. 1% was satKsfadStory jtb know that the Dominions are able to find so much from their own resources that there will be no increasing-strain on the British Exchequer on their account. The United States has promised to financially assist the Allies, m examining the National Balance-Sheet with a view to peace conditions the excess profits and" non-recurring rev cun-, must be deducted, making a net revenue of £416,000,000, less the amount advanced to the Allies and Dominions. Thus far £4,21.8,000,000 has been spent on.the war, of which amount £1,137,000,000 had come out of revenue. No other belligerent could present such satisfactory figures. The estimated expenditure for the coming year was £2,290,000,000, including advances to the Allies of £400,000,000, but this amount was doubtful owing to the United States entry. The daily expenditure would thus be £6,275,000 compared with £6,022,000 last year. The tobacco duty would bring in an extra £6,000,000. The new taxation would bring i n £60,000,000., \ Mr Bonar (Law concluded:-—“lt is' certain that the want of money will not prevent our victory. We shall be atne to go on longer than our enemies. The Budget resolutions were adopted. Mr L. [Baldwin said tlit Government recognised the hardship of double income tax. The matter would be considered after the war.