BRITISH BUDGET.

Taranaki Daily News, 22 April 1920, Page 5

BRITISH BUDGET.

PROPOSALS CRITICISED. GREATER ECONOMY URGED. Br Telegraph.—Press Assa.—f-opytlght, Received April 21, 7.15 p.m. . _ London, April 20. in the House of Commons, during the Budget debate, Mr. Asquith declared the wine duty was worthless in view :>f the small revenue it would produce, and because of £he ill-feeling in the wine-pro-ducing countries. He emphasised the need for greater public economy, and he criticised the smallness of provision for Hie redaction of the floating debt. Otherwise, he warmly approved the Budget.— Imperial Service. , London, April 20. Tm Budget wag received with much criticism from the Government tenches, but probably will gdt more support from the Opposition than from the Government Bide, though the Opposition deplore the dropping of the Premier's land value taxes. , The main criticism is directed against the increase of the excess profits tax, which surprised many people, who «x> •jpwted a reduction, if not its abolition. lifembers of Parliament and others reptesentlng trading and manufacturing interests declare that it will hamper the_ comitry's reconstruction and cause a rise in prices which will damage the country's export trade. Supported of the tax consider that prices will not be affected as prices rose after the tax was halvedMr. Chamberlain's proposals on the Vflow tte regarded as a courageous attyApt to adjust the country's incomings as# outgoings and reduce the national debt.—Aus.-N.Z. Cable Assn.

PRICES NOT ATTACHED. VIEWS OP A LABOR LEADER. Beeeived April 22, 12.30 a.m. London, April 21. in the House of Commons, Mr. Clvnes Unrated the undue war time borrowing, and maintained that none of Mr. Ouonberlain'fi proposals would diminish the cost of living. On the contrary, thay would more likely intensify the situation. t Mr. Clynes congratulated Mr. Chamberlain on- the excess profits proposals, Wt lie rejected the prolonged scheme fot the redemption of the debt, which could be wiped out in a few years by the continuance of a little self-sacrifice. Tie removal of the debt would give contentment not only to the poor, but to many not classed as poor. Mr. Marriot expressed the opinion that tie Budget would have an admirable effect in demonstrating to the whole world the country's confidence in tlie national finances. Therefore It would react in the most favorable manft«r on British credit.—-Imperial Service. OPINION IN FRANCE. Received April 22,12.15 a.m. Paris, April 21. Frenchmen point out the Budget proposals are a poor return for all France has done for England. It would be better if there were more wines and less •pirita.—United Service.