BRITISH FINANCE.

Taranaki Daily News, 27 January 1922, Page 5

BRITISH FINANCE.

BIG “CUTS” PROPOSED. LARGE SAVING INVOLVED. BALANCING THE BUDGET. By Telegraph.—Press Assn.—Copyright. Received Jan. 26, 8.10 p.m. London, Jan. 25. A well-informed report states Cabinet has accepted in the main the Geddes economy committee’s proposed “cuts”, whi\i amount to £80,000,000, comprising the following: Education £18,000,000 Social and military £42,000,000 Agriculture, trade police and prisons £10,000,000

Furthermore, the policy of alterations consequent on Washington decisions and the substitution of airplaes for cavalry is expected to save a further £20,000,000. With a saving of £75,000.000 made by departments, apart from the Geddes dommfittee’s recommendations, this will enable the Budget to be balanced. —Aus.-N.Z. Cable Assn.

ENORMOUS REDUCTIONS.

SOME UNPRECEDENTED PROBLEMS BRITAIN’S GOOD POSITION. Received Jan. 26. 7.25 p.m. London, Jan. 26. Mr. Winston Churchill, opening a 1920 Club established by Coalitionists, said the Geddes economy committee’s report was a fine, massive and comprehensive piece of work. He did not say he agreed with it, but it would be published directly the Government had reached definite conclusions regarding the estimates they were to put before Parliament, in which there would be reductions in expenditure on an enormous scale.

Like the Washington decisions, the Irish settlement and post-war reconstruction this saving would stand to the credit of the Coalition. The country would have no admiration for men who stood with their hands * in their pockets and jeered, snapped and carped at those who were doing the work. The sole object of the speeches of Viscount Grey and Mr. Asquith was to excite partisanship by fault finding against the Government, which was dealing with world events of prodigious and unprecedented complexify. The country should be profoundly thankful it was safely through these enormous trials and perils with greater strength than any other nation of the worldl—Aus.-N.Z. Cable Assn.