BRITISH BUDGET

Rotorua Morning Post, Volume 1, Issue 22, 18 September 1931, Page 3

BRITISH BUDGET

DEBATE IN COMMONS GOLD STANDARD PROBLEM RUGBY, Wednesday. The Budget resolution increasing the income tax by 6d to 5s in the £1 was adopted by the House of Commons without division. Replying to points raised in the debate Mr Philip Snowden dealt with the suggestion that an international conference should examine the gold standard problem. He said it was well known that the matter had been, and is still, under consideration by the League of Nations' Committee. If the United States and Fx*ance chose to hoard gold they could not be made to disgorge it, but if there was any prospect of an international gold conference Britain would be happy to participate. The most interesting- feature of the. debate was a speech by Sir J. Simon, who reached the conclusion that it was necessary and desirahle in the present circumstances for Britain to abandon the system of free imports. Regarding the recent suggestion of Mr. W. Runciman, Sir J. Simon said he doubted very much whether the prohibition of luxuries would have an adequate effect, nor did he believe that an emergency tariff would be more than a negative and partial step. Government Majorifcy Steatly In the House of Commons the attendance was smaller than during the previous few days, but the. Government majority in the divisions was steady. At question time Mr. Ramsay MacDonald stated that the Government is considering the cases of peculiarly great hardship resulting from the various economy measures, and it is confident that these cases will be adjusted without materially affecting the Budget estimates.