BRITISH FINANCE.
HOPEFUL MOTE SOUNDED. COEDIT STANDS HIGH. EEDUCING THE DEBT, By TeJeaarapfc.—Press Assn.—CopyrSrht. London, July 14. On the third reading of the Finance Bill, Mr. Asquith said the Budget was founded on conjecture and hope. Although since the armistice nearly 11,000 millions of war assets had been realised none had gone towards reducing the debt; instead, the money had been treated as revenue. Mr. Wedgwood said the Labor Party opposed the Budget on the ground that it benefited the rich at the expense of the poor. Sir Robert Horne, defending the Budget, said that Mr. Asquith’s gloomy prognostications had so far been entirely falsified. Our credit and the value of our currency .stood higher than at any time since 1914. He reminded the House that the Government had been obliged to meet war charges in excess of the war assets. A request from America' to consider funding our debt to her was one which would be completely met. Our floating debt had been reduced by £409,000,000 since July, 1921, of which £71,000,000 had been paid since March last.
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Taranaki Daily News, 17 July 1922, Page 5
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179BRITISH FINANCE. Taranaki Daily News, 17 July 1922, Page 5
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