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Hokitika Guardian, 7 May 1931, Page 4

Thb Snowden budget is notable because of the proposed taxation of land, which is creating dismay already in Great Britain. The budget, however, is not a sensational one, in all the circumstances, though it has features which will be the cause of much discussion. Mr Snowden impressed with the necessity of calling a halt- where lie could with taxation, is not increasing income tax. Mr Snowden, following many precedents, proposes to raid special funds. In this case it is the exchange fund es Midi shod to assist in regulating exchange, with the United States. The raid is a heavy one, as it is 5: r iposed to take twenty of the thirty-three million pounds stored for a special purpose. The raid can he justified on various grounds in view of the complexity of the financial position at Home, but the expediency of the action is being questioned in various quarters. Mr Snowden again lias definitely rejected import duties on foreign supplies, even for revenue purposes, let alone the fastening of Empire trading. He is definitely opposed to the principle of taxing food, and instead adopts the principle of the land tax. Tt is suggested this has a double barrelled purpose, as apart from revenue returns, he will be conscious of the possibility of a serious conflict' with the House of Lords in regard to which it may be possible to provide a notable ,plank for the coming general election. A conflict of this nature

would suit the Labour Party as the attack on the- revising Chamber is sure to he popular with a large section. However, elections are so often matters of tactics, and Air Snowden may find the enemy equally eleri and aide to manoeuvre for a safe position, withoutimperilling the immediate future. Now. adays so (-.died democracy is undergoing a great change. There has been so much excess in experimental law making, and costly social excursions into realms difficult to support, that the average elector will he rather chary of further experiments, and will be more satisfied to enjoy a respite from advanced legislation and thereby afford time to review the internal condition of affairs, and mending matters by reducing unemployment, rather than attempting theoretical measures to bring about relief bv artificial means. The average person is realising prosper, ity cannot be- created by (lie wave of any magic means, but by work producing goods required by the nation’s customers, which will give an equitable return for the labour employed.