BRITISH BUDGET

Hokitika Guardian, 22 April 1920, Page 3

BRITISH BUDGET

"AUSTRALIAN .fc N.Z. CABLE ASSOCIATION] MR ASQUITH’S CRITICISM. LONDON, April 2(1. In the House of Commons Budget debate, Mr Asquith declared that P ie wine duty was worthless, anff in view of the small amount of revenue R produced ,it would be the. cause, of. dl-fecl-ing in wine,-Pr countries. “ emphasised the W* for greater pnWic economy and cr.teised the smallness in tho provision for a reduction oi R‘ e floating debt, Otherwise lie warmly approved of the Budget-. FRENCH CRITICS. (Received this day at 8 a.m.) PARIS, April 21. Frenchmen point out that the Budget proposals are a poor return for all France has done for England. It would he better if there were more wines and less spirits.

BUDGET orijgisms. (Received this day at 9.20 a.nU LONDON, Aprd 20 - Indication? are that the principal opposition to the Budget will come from the Centre on the increase on Excess Profits Tax. Trading bodies have begun a formidable campaign. Ferrell, chairman ot the Manufacturers Union, will move its rejection. It is generally anticipated that Hon. Chamberlain is willing to compromise. It is reported in the city that lie lias announced bis willingness to abandon the entire increase.

MEMBERS CRITICISM. (Reecived This Day at 8 a.m.) LONDON, April 20. In the Commons, Mr Clynes lamented the undue wartime borrowing, apd maintained that; none of Air Ghambeijain’s proposals woupl dumpish the cpsf of liv.ipg. On the contrary, they ueie more likely to intensify the situation. Mr Clynes congratulated Mr Chamberlain on the excess profits proposals but rejected the prolonged scheme for redemption of the debt, which could bo wiped out in a few years by the continuance of a little self sacrifice. Tho removal of the debt would give contentment, not only to the poor, but to many not classed as poor. Mr Marriott expressed tile opinoin that the Budget would have an admirable effect, by demonstrating to the I whole world the country’s confidence in tho national finances. Therefore it would react in a most favourable way on British credit.

BUDGET PAYMENTS. (Received this day at 12.25 p.m) LONDON. April 21. Hon Chamberlain in his Budiret speech, stated the expenditure on supply service amounted to 788 million, whereto must be added twenty million partly to cover the extra cost of unemployment and- of the agreement with Australia and New Zealand in regard to Nauru Island, but mainly to provide further war bonuses and public services.