GRIM DETERMINATION
EFFECT OF BRITISH BUDGET FEW DEALINGS ON EXCHANGE (United Press Assn.—Elec. Tel. Copyright) (Received Sept. 30, 3.15 p.m.) LONDON, Sept. 29 After the initial shock the City accepted with grim determination the Chancellor’s dual-purpose Budget, which was framed with a view to meeting war-time expenditure as far as possible from the current revenue and restricting non-Govem-ment spending. Financial circles are staggered at the severity of the proposals, but consider that the reliance so extensively on taxation will give time for the war expenditure to swell the national savings, thus reducing the risk of inflation on the scale characterising the last war. The stock markets are dominated by the Budget, and with dealings on a strictly cash basis there is little business passing. The commodity markets have not yet settled down to war conditions, and trading remains difficult. There have been no major price changes.
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Waikato Times, Volume 125, Issue 20923, 30 September 1939, Page 8
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146GRIM DETERMINATION Waikato Times, Volume 125, Issue 20923, 30 September 1939, Page 8
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