CANADA’S BUDGET

Sun (Auckland), Volume I, Issue 282, 18 February 1928, Page 12

CANADA’S BUDGET

£11,000,000 SURPLUS TRADE WITHIN EMPIRE By Gable. —Press Association. — Copyright. OTTAWA, Thursday. In the House of Commons to-day the Minister of Finance, Mr. J. A. Robb, brought down the Budget. The revenue for the year is estimated at £83,800,000 and the expenditure £72,800,000, leaving an estimated surplus of approximate! v £11,000,000. Of this about £7,760,000 will be applied to the reduction of debt in 1927-28. Mr. Robb said international trade was well maintained. He had an important announcement to make regarding Empire trade. To secure the advantage of the British preferential tariff imported goods must now be made as to 25 per cent, by Empire labour. He proposed to double this percentage to 50 per cent, labour and materials. There would be a similar increase in the percentage required in goods entering under treaty rates the intermediate tariff f?snn 1 nn i ft 0n ? taxation would totai £3,800,000, including 10 per cent, off the income tax. The tariff changes would Include a material reduction in a large range of household cottons, and the prewidened t 0 British goods would be

io R ? b i f 5 that deluding Britain Canada bought from Empire countries in the fiscal year ended March 31 good* ' v °« h . "i 5^ 000 ,’ 00 . 0 ' On this £4,000,000 was collected in duties, 54 per cent, of it on oo??ion 0r ? Pi +! tS ’ ? howin S that the major portion of the imports from the Dominions consisted of non-competitive or raw products—A. and N.Z.-Sun,