BUDGET CRISIS IN FRANCE.

Timaru Herald, Volume CXXIII, 5 April 1926, Page 9

BUDGET CRISIS IN FRANCE.

Senate Holds Up BUI.

SERIOUS CONFLICT IMPENDING

By Cable—Press Association —Copyright. Reuter's Telegrams. (Received April-4, 5.5 p.m.) PARIS, April 2. Tlie Senate Finance Committee Approved the Budget, with the exception of the oil and sugar monopolies, svhieh proposals are being submitted to a special committee. , A corlflicfc is likely between the two. Houses, although it is probable the Senate .will yield ultimately, in order to avoid a Ministerial crisis. The Senate debates ihe Budget cn April'l2.' The Chamber by 311 votes to 39 passed a Bill increasing the 30 per cent. Custom's on all goods, except tobacco, newsprint, corn, ccfl'ee, cocoa, component parts of agricultural machinery.^ An unfavourable impression on 1 lie Stock Market was created by file weekly f ,balance sheet of the Banquo de France; showing van increase of a' milliard and 1 a; quarter iratios in the Banqitc' advances to the Treasury, and over 623,000,000 francs increasee in fiduciary circulation.

GOVERNMENT’S DIFFICULT POSITION.

DELICATE HANDLING REQUIRED

By Cable—Press Association—Copyright Australian and N.Z. Cable Association, ' (Received April 4, 5.5 p m.) PARIS, April 2.

The proposed Oil and Si.-ar monopolies promise to become a serious, and perhaps a vital political tssco. The Senato Finance Commission took the proposal out of the Taxaucn Bill, recommending the creation of a special Senate Conmiis.sio i to st'idy the- Chamber’s monopoly projects therein. The Chamber passed the Taxation Bill because the n;. nopnlies "'cro included. The Finance Commission’s action seeks-to avoid » direct clash between the two Houses and may provide the Government wth a means of escape from an immediate difficulty, but the Government may have to. begin the whole taxation busines« over again, since they must eifiier maintain the monopolies oi risk defeat in; the Chamber, or ask a relu.-tant Senate to accept proposals in which it risks defeat. ;

MAKING SLOW HEADWAY.

GOVERNMENT CONTROL RESISTED.

By . Cable— Prm Association—Copyright. Australian and N.Z. Cable Association mi • . -PARIS, April a. adopted, by 2U3 votes to proposed monopoly on the Importation of petroleum, the measure being discussed despite M. J/eret's request tor a postponement in order to proceed with the Finance Bill, from whicli the monopoly is separated. . Peret, favoured the institution of control m co-operation with foreign business interests. He asked tor a fairly tree hand for the Government to organise control. ‘ Little headway was made with the financial debate, a feature being M. Peret’s readiness to accept alternatives, provided they gave equal revenue. For instance, the Chamber rejected increased duties on pharmaceutical goods, and M. Peret immediately unpocketed a ready-made c ause increasing the' stamp duty on goods conveyed by railways, confessing simultaneously that he’ had other substitutes up his sleeve.