GLOOMY OUTLOOK
NEW TAXATION TO MEET BRITISH BUDGET REVENUE DROPS HEAVILY LONDON, Wednesday. The Exchequer returns for the first nine mouths of the financial year show that the revenue was £418,000,000, a decrease of £18,000,000 on last year, and the expenditure £558,000,000, an increase of £17,000,000. ’Phe “Financial News” says it is painfully evident that the Chancellor of the Exchequer, Mr. Snowden, will need an unexampled resiliency in the revenue if his Budget is to balance. The national accounts show a deficiency in revenue for the three quarters of the year of £169,797,000, compared with £137,770,000 in the similar period of last year and £150,251,000 two years ago. While admitting that the final quarter always goes far to correct the ultimate balance, the “Financial News” thinks that a substantial deficit on the year is inevitable. It says it is extremely difficult to see liow new taxation can be avoided, which cannot further trade or employment.
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Sun (Auckland), Volume III, Issue 861, 3 January 1930, Page 9
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155GLOOMY OUTLOOK Sun (Auckland), Volume III, Issue 861, 3 January 1930, Page 9
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