BRITISH POLITICS

Hokitika Guardian, 10 March 1920, Page 2

BRITISH POLITICS

STATEMENTS IN COMMONS

<Uy Electric; Telegraph—Cop.> ight.J (Imperial News Service).

(Received This Day at 8 a.m.) , 'LONDON, 'March 8. In the Commons, at question time, Hon. Lloyd George stated that Government had decided that the abolition of the bread subsidy was inadvisable at present, but a substantial reduction in the estimate for the current financial year was imperative. Conse. quently the wholesale price of flour would be raised by 19/3 per sack of 280 pounds on loth March; also the average rate of extraction which must be obtained from wheat will be raised from seventy-seven to eighty per centum. In order to ensure that the bene fit on increased value of traders stocks shall pass to the consumer or taxpayer no advance ipt the retail price of flour or bread - would be permitted until 12th April. Arrangements had been made to check traders stocks. The es-

timated reduction in the subsidy amount to about forty-five millions sterling for the current financial year. Replying to Hon. Gideon Murray in regard to the American suggestion that British West Indies should be ceded to United States in exchange for the cancellation of certain war debts, Hon. Lloyd George stated that Government had not the slightest intention of bartering or selling any part of the British West Indies (Loud Cheers.)

Replying to Mr 'Asquith, Air Chamberlain stated that Government did not intend to reborrow outside of United Kingdom any part of the 250 million dollars required to repay the British half of the Anglo-French loan of five hundred million dollars from United States, so when the loan was repaid, the British external debt would be reduced by over 50 million sterling. Government would employ, in this connection, available, resources in United (Stateis (supplemented by a shipment of gold. They had already begun to buv Anglo-French bonds at considerably below par.