BRITISH BUDGET

Manawatu Standard, Volume XLV, Issue 128, 4 May 1925, Page 5

BRITISH BUDGET

VOLUME OF CRITICISM. PROPOSALS REINS REVIEWED. (By Electric Telegraph.—Copyright.) IX)NDON, May 3. Mr Winston Cburchijl's Budget has beep subject to an increasing volume of eriti<jiem during the week-end. The chief points of attack are the silk duty and the added burdens to industry m consequence of extensions of the insurance scheme. Reynold’s News goes so far aa to say that the silk duty will be withdrawn and the insurance proposals will bo modified, postponed or withdrawn optiroiy. the effect of euch a withdrawal would be to cut the heart out of the* Budget 'entirely. There is po doubt, however, that the Budget prpposils are undergoing review at the Treasury and modifications of the original proposals are not unlikely. Mr J. L. Garvin in discussing the Budget in the Observer, says Britain has been kept down by unexampled (taxation. No mortal man could pui; this situation right by one first Budget. The wor!< can only be done by a connected series of Budgets. The nation never hod a clearer or a graver duty than to strengthen the hands of its Chancolloi'.—A. and N.Z. oable.

PROPOSED SILK DUTY.

TRADE TO BE CONSULTED. I.ONDQN, May 2. An outcry has developed oyer the who)e country against Mr Church ill's proposed silk duty, which has resulted in the Budget being nicknamed tho “Silk Stocking Budget.”* In consequence of this outcry the Treasury yesterday issued a statement to the effect the criticisms will be considered and the export trade bo consulted. It is now declared that it was never intended that because an article contained a little silk it was to be taxed to the extent of one-third of its value. There is an immense range of goods in which a small proportion of effk is employed and it is admitted that the effect of imposing a tax of one-third on the full value of such articles would make the duty highly protective. It is understood that Mr Churchill has been in consultation with the Customs authorities the result of which >vill be a system pf charging calculated to carry out Mr Churchills real intentions. The most pointed criticism of the silk duty came in the House of Commons from Miss Wilkinson who declared that artificial eilk had taken the place among wmkipg women of wool, which they cannot afford to buy. It was largely used for knitted jumpers which the women made themselves, and one poiind, at three shillings, was sufficient for a jumper. She proceeded to argue that a tax of three shillings per pound meant one hundred per cent increase, blit a tax of four shillings per pound on heavier silks used by the rich women meant only 66 2-3 per cent- Concerning stockings, Miss Wilkinson said a sixpenny tax might bo a matter of indifference to women who bought stockings at two guineas a pair, but it m ean t 33 1-3 per cent increase to women who bought artificial stockings at Is 6Jd a pair. Lord Oxford (formerly Mr Asquith) when speaking at Glasgow yesterday, declared the »ijk tax to be a tax upon the material of a great industry. Sir Alfred Mond, when speaking at Car,iff, asked: '‘Why destroy one of the few prosperous industries which the country has?” It was a mystery who fiad advised Mr Churchill to take such a 6tupid step and ho was certain Mr Churchill would be obliged to abaudon # sqcfr a proposal. Morning Pore, jn an editorial discussing the provision for preference, says: “When this system is opce working, it will pmke praotjcgblo comprehensive migration within the Empire for which we have waited so long- Although the Budget makes no provision for such migration, its every line shows the necessity for it for the new .insurance’ means an added charge oil industry already burdened by over one million unemployed. ’■ The leader incidentally suggests the immediate modification of the Portuguese Treaty to enable Australia and South Africa to label their wines as port.—A. and N.Z. cable, CAREFULLY ADJUSTED BALANCES'. REPLY TO LABOUR CRITICS. LONDON, -Mgy 1. Mr Winston Churchill, when addressing the Primrose League at Albert Hall, said his Budget consisted of a series of carefully adjusted balances The tax on silk would produce exactly four millions this year and seven millions next year, which would precisely meet tho cost of relief given on eairned incomes to smaller taxpayers. Re was confident tjie silk tax would not diminish employment and would be paid by an enormous number of people in inconceivably small instalments. Women, if convinced it was for the country’s good, would not hesitate to assume tho burden of the tax. Another balance in the Budget was that the MclCennaduties would fully defray the cost of Imperial preference. In referring to the previous night’s scene in the House of Commons, Mr Churchill vigorously assailed his Labour critics. Mr Snowden had said it was a rich man’s budget. Let him and his Socialist friends say that at the New Year to tho 200,000 widows who then will be drawing pensions, also to the 6,000,000 who are assured of pensions, or say to the old age pensioner, ‘Comrades, we meant to give you these on a non-contributory basis, but we had to go and help i>ur Russian friends first.' ”—A. and N.Z- cable.