BRITISH BUDGET
AJR SNOWDEN’S PROPOSALS. [United Press Association.—By Electna Telegraph.—Copyright. 1 (Received this dav at 9. a.ni.i LONDON, April 27. During his Budget speech in tun Commons, .Mr Snowden said it was not intended to meet the previous years deficit of 231 millions sterling i'm mediately, by additional taxation. He estimated the revenue on the basis of thi> present taxation at 762 millions and expenditure at £803,366,000. He would never lv> a party to revenue from tariffs which would relievo the rich at the expense of the poor, and be an imlif.-efc attack on wages. It was proposed to take twenty millions from the exchange fund of tliirtv three millions now maintained in United States, as the establishment of a Bank for international settlement, had changed the circumstances and need for a standard rote. Income tax would not he changed. The petrol tax would he increased hv two-* pence per gallon and a new tax of a. penny in the pound would be imposed on the capital value of land.
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Hokitika Guardian, 28 April 1931, Page 4
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170BRITISH BUDGET Hokitika Guardian, 28 April 1931, Page 4
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