BRITISH FINANCE BILL

Southland Times, Issue 21089, 22 May 1930, Page 5

BRITISH FINANCE BILL

SIR ROBERT HORNE’S CRITICISM. MEASURE READ SECOND TIME, v (British Official Wireless.) Rugby, May 20. In the House of Commons to-night Sir Robert Horne (Conservative) moved the rejection of the motion for the second reading of the Finance Bill. He said that owing to .the Budget's heavy additional taxation industry was faced with increased difficulties in competing successfully in the world’s markets. In the social services this country had gone twice as far as any other, and by increasing that expenditure, for which the revenue could only come from the already overburdened industry, the existence of the social services themselves were threatened. Sir Herbert Samuel (Liberal) supporting the Bill, recalled that the burden of rate relief left by the late Government’s Bill was very heavy, and had been estimated at £24,000,000 by Mr Neville Chamberlain. The present Chancellor was determined to in this way meet his obligations. Perhaps he was doing more, and if there was the smallest improvement in trade the Budget was likely to yield a surplus ilext year and perhaps a considerable surplus the year after that. It was a tribute to British democracy that, the Labour Government had not yielded to the temptation to put aside its obligations regarding debts. It. was a grim Budget, but he thought it was not unjust. Mr F. W. Pethick-Lawrence, Financial Secretary to the Treasury, said the large size of the Budget was mainly due to the aftermath of the war.

After a long debate Sir Robert Horne’s motion to reject the Finance Bill was defeated by 282 votes to 206, and the Bill was read a second time.