BRITISH DEFENCE

Waikato Times, Volume 124, Issue 20740, 25 February 1939, Page 7

BRITISH DEFENCE

THIS YEAR’S OUTLAY BORROWING £350,000,000 CHANCELLOR’S BROAD HINT (United Press Assn.—Elec. Tel. Copyright* (Received Feb. 25, 11.45 a.m.) LONDON. Feb. 2i Sir John Simon's decision to meet two-thirds of the vpar’s rc-armament expenditure by borrowing estimated at £350.000,000, the expenditure to be met from taxation thus falling by £ i r, hint that taxation would not be inci eased, are warmlv welcomed in the City. Industrial shares are being adjusted in an upward direction over a wide range, and the inevitable softening of gilt-edged securities is being confined to narrow limits. The immediate effect of Sir John's statement on the money market has been negligible, with no pressure on sterling, in a quiet foreign exchange market. AIR RAID PRECAUTIONS DELIVERY OF STEEL SHELTERS MANY THOUSANDS FOR HOMES (Offlelal Wireless) (Received Feb. 25. 11 a.m.) > RUGBY, Feb. 24 r The first 15,000 steel air raid shelters will be delivered at homes in six London boroughs and seven English and Scottish centres before the end of the week. By the end of next week a further 24,000 shelters will be delivered in more than twenty cities and towns throughout the country. In the following week 36,000 more will be delivered, and thereafter delivery to households will continue at an accelerating rate.

“BLACK OUT ” AT SINGAPORE .AIR ATTACK DEFENCE TESTS. BIG MANOEUVRES INTENDED (United Press Assn.—Elec. Tel. Copyright'' SINGAPORE, Feb. 24 Singapore settlement was “ blacked out ” last night for the first time to test the defences against aerial attack. The tests, which will be repeated to-night, are a prelude to combined naval and military manoeuvres in March, In which 25 warships will take part. The British Government is spending £2,000,000 on strengthening the defences of Malaya and the Straits Settlements, and otherwise protecting Singapore's back door. BUBMARINE AND CRUISERS TRAINING WORK AT SYDNEY ROUSING WELCOME TO CREWS / (United Press Assn.—Elec. Tel. Copyright) SYDNEY, Feb. 24 The British submarine Phoenix arrived at Sydney to-day from Hongkong to co-operate in anti-submarine training for Australian and New Zealand naval and naval reserve personneL The Imperial escort vessels Wellington and Leith arrived this afternoon from New Zealand, and two of their officers and 15 ratings will undergo a oourse of anti-submarine work in conjunction with the Phoenix, which was given a rousing welcome by harbour vessels and naval craft.