BRITISH BUDGET

Hokitika Guardian, 17 April 1929, Page 5

BRITISH BUDGET

AN INTERESTING REVIEW,

(United Press Association—By Electric Telegraph—Copy rlgh 11.

(Received this day at 8 a.m.) LONDON. April 16.

The Budget introduction attracted a crowded house including the Prince of Wales, who with the Peers in the Gallery listened to Mr Churchill with interest, hut the general verdict was it was easily the dullest of Mr Churchill's budgets. He cleverly found his • way through a maze of statistics producing an impression that it was a defence of the Government’s financial policy since 1024, hut his artistry or oratory was less conspicuous than in the previous Budget efforts. .. Only when the Chancellor approached the final announcement of taxation changes did the audience sit up. It was quickly evident that the only substantial change was the abolition of the tea duty tax, which had been in existence since the time of Queen Bess and had been as much as half-a-crown and even five shillings a pound. So general was the satisfaction at its end that the fact entirely removed the remission not confined to the Empire. It was also welcomed as the means of the removal of irritating custoifis restrictions. There is no likelihood of the abolu.■tion changing the price of a cup of tea in a tea shop. Tt is expected that the relief for agriculturists will cost two and a half millions. Tt pleased farmer Commoners. Motorists complain of the absence of a substantial reduction in taxation on motor vehicles particularly the vast majority of motor owners who are persons of moderate means. Racing men admit the tax of half per cent taking from the totalisator is less than anticipated. At least one per cent Was expected, as this is the tax on the course at the moment. Appnrmitly’ Mr .Churchill was desirous of making totalisator betting as popular and as cheap as possible

BUDGET CRITICISED

(Received this d"«* »»♦ 1 30 n m ' LONDON, April 16

Tn the Commons, Hon. Philip Snowden, criticising the Budget said the country had been disillusioned concerning Churchill’s earlier pronouncements in favour "of economy. The new remissions of taxation merely represented another reading of the sinking fund. No more scandalous transaction had ever been made by a British Minister, than the settlement of Continental debts to Britain. France had been allowed to repudiate four-fifths of the debts to Britain, though since the war France had been the most prosperous country in Europe. The case of Italy was even worse. We had done for France and Italy what the United States had not done. The total debt ratified, agreed to, or funded, amounted to fifteen hundred millions, on which the taxpayer was paying five per cent I interest. Churchill commuted these . debts for twenty million a year, while we are paving the United States thirty seven millions.