BRITISH BUDGET
NEED FOB GREAT SACRIFICE “MOST FRIGHTFUL BLOW” STATEMENT BY CHANCELLOR (United Press Assn.—Elec. Tel. Copyright) (Received Sept. 29, 3 p.m.) LONDON, Sept. 28 In the House of Commons, Sir John Simon, in winding up the general Budget debate, said the raising of the bank rate enabled the Government to devise means to control inflationary tendencies. The policy was to borrow from the genuine savings of the people at the lowest rate obtainable. . “Direct taxation is going to inflict a most frightful blow in a great many homes which may seem comfortable and well appointed,” he said, “and no doubt the richer classes may have to revise the scale of their lives materially.” The debate has concluded.
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Waikato Times, Volume 125, Issue 20922, 29 September 1939, Page 6
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118BRITISH BUDGET Waikato Times, Volume 125, Issue 20922, 29 September 1939, Page 6
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