BRITISH FINANCES

Hokitika Guardian, 3 February 1930, Page 5

BRITISH FINANCES

REVENUE SLACK

[United;Press Association—By Electric Telegraph .—Copyright. ] LONDON, February 1.

“I regret L' am unable to speak sanguinely regarding the revenue side of the. Accounts,” said Rt. Hon Philip Snowden (Chancellor of the Exchequer) nat Leedsi, .“.Unless the income tax receipts improve considerably before the end of March, we shall probably find that the Budget estimates are'not realised. The stamp duties are also down. The only possibility of any reduction of the expenditure is in the case of armaments and war debts. If trade improves, and this is' accompanied by cheaper money, for which we are hoping before long, we may make' some "impression on our huge national debt, enabling a reduction in taxation to be made, but the national financee must pay its way. We shan’t commit raids and live on capital, or on outside capi-, tay; to meet current and recurrent expenditure.” LONDON, January 31. Civil accounts show a general decrease in migration for 1929. The amount voted in the Estimates was £1,418,000, for which £249,000 was un-expended-and returned to the Treasury. It .is explained that this is chiefly due to restrictions in Australia, Canada and New Zealand. At’the wool sales 6,888 bales were offered, of which 733 were from New Zealand, and were a good selection of greasy merinos, principally super style spinners sorts.' The market continues firm at late rates.