BRITAIN’S BUDGET

Hokitika Guardian, 26 February 1932, Page 5

BRITAIN’S BUDGET

MHEAT QUOTA BILL. OUTLINE OF PROVISION. (British Official Wireless.) RUGBY, February 24. The Government’s Wheat Quota Bill, published to-day, aims at providing a secure market ,and an enhanced price lor Home-grown wheat of nullable quality, without a subsidy from the Exchequer, and without encouraging the extension of wheat cultivation to unsuitable land. The guaranteed price is to be 45s per quarter. A secure market will be provided by imposing on the millers a contingent obligation to purchase the stocks of Home-grown millable wheat remaining unsold at the end of the cereal year. The Bill sets up a Wheat Commission, for 'the general administration .scheme, arid particularly to decide the quantity of Home-grown wheat the millers will require, and a Flour Millers’ Corporation, to discharge any obligations imposed on the millers respecting unsold 'wheat.

The /Ministry of Agriculture, in a statement anent the Quotsf B’ll, explains that ‘the area of wheat in the United Kingdom fell to 1,250,000 acres in 1931,' the lowest since statistics have been collected.

The Bill does not interfere with free importation, so that the consumers of bread and poultry keepers will continue to benefit from cheap supplies, but flour millers and importers lire required to make' quota payments into the wheat fund, in respect of every hundredweight of flour delivered in the United Kingdom'. Millers will not be required to mill home-grown wheat for every parcel of flour manufactured, but are left free to buy the wheats they desire.

Deficiency payments will be made from the wheat fund, ’ controlled by the Wheat Commissioner, and quota payments by the millers and import■erq, being greatest, when -the world price of wheat is lowest, so that ass’st.ance to wheat growers will be reduced as the world wheat prices /rise.

DUTY ON FLOUR POSSIBLE. GOODS ON THE FREE LIST LONDON, February 25. In the House of Commons Mr Chamberlain's amendment to include in the Free List an'imal hair, esparto grass, metallic ores, pearls, semi-precious stones, platinum, and.the whale pi'os'tones, platinum, and the whole products produced by British concerns, coal, coke, manufactured fuel, potassium, fertiliser, salts, maize, was adopted. Labourites, supported by some Liberals, sought to place on the free list all human foodstuffs. terialists replied that a wide range of foodstuffs comprising all staple articles of diet were already free listed, After a long debate the amendment was defeated by 308 votes to 71, Tho Wheat Bill caused considerable activity in the flour market, especially for future deliveries, The ‘’Daily Telegraph” staths that Messrs Samuel, and 'Sinclair are supporting the 'Quota Bill, though some back bench Samuelites are opposing it. The “Daily Express” says that the nett result of the complicated Wheat (Quota ;B'ill will oe a levy of 3s per sack of flour whether Dominion or foreign produced, which is roughly equal to a halfpenny on fine four pound loaf. BUDGET ESTIMATES. REDUCTION OF SEVEN MILLIONS. RUGBY, February 24. The first of a series of Government estimates for the next financial year, upon which the Budget, to be introduced in April, will be based, was issued to-day. The document covers the civil estimates and the estimates for the revenue departments, including pensions, education, insurance and other grants, and the Exchequer contributions to local revenue. They show a redaction on last year’s estimates from £409,514,765 to £402,027,105. The actual reduction on the Civil estimates exceeds £9,000,000, but the increase in estimated expenditure by the revenue departments gives the net reduction as above. The principal reductions are on education, £5.466,701, roads £4,250,000, Pension,* Ministry £2,795,200.

MR LLOYD GEORGE. RELIEF FROM. (HIGH COURT. LONDON, February 24. 'Mr -.Justice iMeCardie, at the King’s Bench Division, granted relief to Mr Lloyd George. Counsel explained that •the election agent made a return of expenses, but Mr Lloyd George, owing to ill-health, omitted to make a personal declaration. A cablegram on February 10, stated : Mr Lloyd Georg© is applying immediately to the High Court for rej,id' from the consequences following Lis election-agent's inadvertent omission to provide a declaration regarding election expenses. Until formal relief is obtained, he will be unable to sit in tlni' House of Commons, mirier a penalty of £lO9 daily.