HOUSE OF COMMONS.
AUSTRALIAN AND N.Z. CABLE ASSOCIATION. BRITAIN’S DEBT. LONDON, June 12 In the House of Commons in committee on the Finance Bill, Mr Baldwin moved a resolution intended to abrogate the provisions of the Sinking Fund Act, and to introduce a new sinking fund fo deal with the public, debt as indicated in the budget. This allocates forty millions in the current year, forty-five millions next year, and fifty millions as a permanency in suhsequent years. M,r Asquith said he welcomed so large a debt reduction, as, in the long run, large and progressive debt reduction was the best means of ensuring the financial rehabilitation of the country, hut it would be futile to hind future Parliaments by a fixed schedule. Sir TV. Joynson ITieks replied that the proposal with regard to future years did not mean anything more than a minimum standard, which could he increased if circumstances permitted. The resolution was carried hv 251 to 119.
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Hokitika Guardian, 13 June 1923, Page 2
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160HOUSE OF COMMONS. Hokitika Guardian, 13 June 1923, Page 2
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