COAL IN BRITAIN.
THE PRICE NOT JUSTIFIED. LARGE SURPLUS PROFITS. By Telegraph Press Assn.—Copyright. Received Feb. 12, 8.35 p.m. London, Feb. 12. In accordance with a promise made by Mr. Lloyd George to the Miners' Federation, an accountant appointed by the Government to investigate the finances of the coal industry has issued a report. He finds the estimates on which the increase of six shillings a ton subsequent to the reduction of ten shillings a ton were based, were reasonable, but the revenue was under-estimated to the extent of about £30,000,000, due to undervaluation of exports and bunkers. The report considers an increase of 3Gd a ton instead of 72d would have sufficed, and estimates there will be a surplus oil March 31st next of £8,000,000, whereas the miners estimated the nett profits would be £54,000,000.—Au5.-N.Z. Cable Assn.
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Taranaki Daily News, 13 February 1920, Page 5
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138COAL IN BRITAIN. Taranaki Daily News, 13 February 1920, Page 5
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