BUDGET PROPOSALS.
MR SNOWDEN’S CRITICISM.
LONDON, April 29. In the House of Commons, during the committee stage on the Budget, Mr Philip Snowden (Chancellor ir,. the MacDonald Ministry) declared that increased expenditure was not justified. Expenditure on the navy should have been reduced, instead of increased. The Budget, apart from women’s pensions, was the worst rich man’s Budget ever introduced. The pensions scheme would impose a burden of £14,000,000 annually on the industries or the country at a time of unparalleled industrial depression. Sir Alfred Mond doubted the wisdom cf returning to gold payments. He deplored the burdens laid on industry by growing systems of serial insurance, while the silk duty would injure one of the most important textile industries. Sir Robert Horne championed the proposals. He declared that the preferential system had been of immense lienefit to British trade. “We see from events in South Africa the resu It of our failure to give reciprocal terms to a” country like that,” he said.—A. and N.Z. cable. CONTRIBUTORY PENSIONS.
LONDON, April 29. The House of Commons read a first time the Widows’ and Orphans’ Old Age Contributory Pensions Bills.—-A, and N.Z. cable.
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Manawatu Standard, Volume XLV, Issue 126, 1 May 1925, Page 5
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192BUDGET PROPOSALS. Manawatu Standard, Volume XLV, Issue 126, 1 May 1925, Page 5
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