Great Britain

Stratford Evening Post, Volume XXVII, Issue 71, 23 July 1915, Page 6

Great Britain

PRACTICE OF ECONOMY.

BRITISH PREMIER’S OPINION

United Vuess Association. (Received 12.11) p.m.) London, July 22. A deputation of bankers and nunchants waited on Mr Asquith and Mr McKenna on the subject ol public economy. > Lord St. Aldvvyu said the (>overiinnen had not since the commencement of the war enforced economy in mat- . ters under their own control. He urg•ed that private- economy be enforced by the' immediate increase of taxation. Mr Asquith, in reply, said be bad 1 endeavoured-to bring home to his fel-low-countrymen the importance and urgency of economy. ' T 1 my were faced with a large and growing increase in public and’ private expenditure, also •with the fact that the war could not be prosecuted successfully without .large economies. He agreed they had not gone nearly far enough in providing for the war put of taxation. He had been a long time convinced that the income-tax 'ought to begin at a "lower scale, and that its basis ought to -bp broadened. T hey must diminish the ■consumption of imports and maintain .exports on an increased; scale. I lie ■more they bid for this, tire more would .’they contribute indirectly to the country’s resources, from which the nation would defray the gigantic expenditure. He said he could not assent to the that they should proceed by way of a piecemeal Budget, which was dangerous. He thought it would be -more /desirable- of the question would be; dealt with as a whole. There would dfet no delay in- submitting concrete 'proposals to Parliament’ to complete for the -present year the duty -Of obtaining from the taxpayer air adequate and equitable contribution to the abnormal expenses. He . was not pessL mistic as trt the conduct of the .war or as to the resources pf the country.