FRENCH POLITICS.

Hokitika Guardian, 5 December 1925, Page 3

FRENCH POLITICS.

j Australia & N.Z. Cable Association.] FINANCE BILL PASSED. BARIS, Dec. I. The Chamber with the exception of a short interval for refreshments, sat all night and was still sitting at noun to-day. The Government only secured a majority of six for the adoption «t Article Four of the Finance Hill increasing the limit of the Bank of France’s advances to the Treasury b.v six milliards of francs. Al. Brinnd before the vote was taken, appealed for the adoption oi the article as the corner stone of the hill, making it a question of confidence. Article five, authorising an increase oi seven milliards of francs, and the note issue, was adopted on a show of hands. Article two. increasing general income tax by twenty per cent, the tax on non-commercial profits by twentylive per cent, and doubling the mines duty was also adopted after the rejection of amendments to increase the property tax and the agricultural profits tax. by twenty-five per cent., and exempting certain land owners from taxation. The Chamber passed the whole, of AL Loueheur’s Finance Bill by 257 votes to 229.

FRENCH FINANCE. I’ARIS, December 1. Al. Brinnd was received in the Chamber with enthusiasm of “ Vive Locarno.” ..i. Brinnd declared the financial situation was particularly grave, hut it could he overcome if the nation was prepared to accept sacrifices. He proposed the immediate flotation of fifty million stg to redeem the short term bonds, the limitation of the note circulation to five hundred sterling, an increase in taxation in land, property and the usual commercial profits, revenue front shares, lotteries, bonuses of fifty per cent on mining royalties, one hundred per cent, income tax, twenty per cent, immediate payment on 1921 taxation and payment of 1925 taxation before April. He hoped Britain and America would consider the necessity arising for France to restore the franc to parity.