THE BRITISH PARLIAMENT.

Hokitika Guardian, 27 April 1921, Page 3

THE BRITISH PARLIAMENT.

AUSTRALIAN AND N.Z. CABLE ASSOCIATION. budget debate. LONDON, April 25. Ih the Budget debate, Mr Asquith said he was disappointed at the efforts to reduce the floating debt. The new conversion loan would have the effect of creating the belief that we were adding to the country’s capital debt, a dangei not to be ignored. The real remedy lay in a reduction ,of expenditure. Do hoped the Government would create an estimates committee with some real power to check expendituie. Mr Thomas said the figures would create apprehension. The sum required for the fighting forces to carry out the Government’s foreign and Irish policy was disproportionately high. The Labour Party claimed that the first remission of taxation should be on indirect taxes, particularly tea.

BRITAIN AND FRANCE. LONDON, April 25. Hon Llovd George, in the Commons, stated as tht result of a conversation with M. Briand, the French Government had undertaken to supply further detailed information in the course of a <?" days, respecting the French proposals The-whole subject then would >e (<>n sidered by Cabinet and submitted tithe House. He understood German had prepared fresh proposals which h. not been yet received. If these -ere unsatisfactory the Government would support France at the Supreme Council, regarding the occupation of Hum. THE LOAN PROPOSAL. LONDON, April 25. The loan is the only sensation of n featureless Budget, ft "ill increase the interest paid on war bonds i n 311 millions to 38* millions. Nevertheless it is generally approved as it ml take the State out of competition «'D industrial interests in the money market. It is understood Sir R- H0,1,t ' out to secure cheaper money while Board of Trade was impressed with tn< difficulties that industries now have n financing themselves. The “Daily Express City though approving, points out that tl ■ issue is expensive to the taxpayer, a Jin investor who converts at the rate o £163 per hundred, will secure a l> e ' manent income of 114 s, compared wit the present 105 s. In view of the mcv. able reduction in the value of mpnej this offer in attractive.