BRITISH FINANCES.

Taranaki Daily News, 15 April 1920, Page 5

BRITISH FINANCES.

INCREASES IN ESTIMATES, By Telegraph.—Press Assn.—Copyrlsht. London, April 13. The Civil Service estimates for 1020-21 for the Revenue Department show that 10 million extra will be required, compared with 1919-20. The extra funds for ptnt office requirements represent 15 millions. The provision for education, science and art totals iiS millions, of which 15 million is the increase. The foreign and colonial estimates of 3y« millions represent 35- per cent increase. Mr. Hopkins drew attention to the foreign exchange value of the pound sterling, and suggested taxation on imports of luxuries. Mr. Baldwin, for the Treasury, emphasised that the reovery from the present financial malady was bound to be long, slow and costly. He agreed that increased taxation was desirable, but expressed the opinion that the less interference with currency matters the better. Until debtor 'nations made their annual revenue balance with their expenditure no other efforts to improve the state of their currency wkild Tie of the slightest use. He pointed out that the British exchange position had greatly improved, and emphasised that financial stability could only he achieved by economy and the increased production of necessaries.—Aus.-N.SJ. Cable Assn.