BRITAIN'S NATIONAL DEBT.

Auckland Star, Volume LVI, Issue 31, 6 February 1925, Page 5

BRITAIN'S NATIONAL DEBT.

FLANS FOB REDUCTION. CUMULATIVE SINKING FUND. LONDON", February 3. Mr. Hugh Dalton (Labour M.P. for Camberwell (Pcckham), who was formerly lecturer on economics in the University of London, gave evidence yesterday before the Treasury Committee "which is investigating the Xational Debt. Tin said the capital levy would be the most satisfactory method of reducing the Xational Debt. . In default of that, Mr. Dalton rrcom-l mended a fully cumulative sinking fund, commencing ot £100,000.000 a year, which would pay off the debt in 30 years. As an alternative he suggested a sinking i fund not fully cumulative, supplemented ■ by the compulsory creation of terminable annuities in exchange for a proportion of all estates passing at death. Sir. F. H. Pretvmau, who was Parliamentary Secretary to the Board of Trade in 1015, expressed the opinion that if the present taxation were maintained it was doubtful whether Britain would ever again be able to absorb all the available labour. — (A. and X.Z. Cable.) In 50 years the Xational Debt made tenfold growth, tor the financial year 1875-6 the total amount of dead weight debt on April 1 whs £7(«i.l 15,83-1. 7or the financial year 1023-24 at April 1 the dead weight debt stood at £7,772,390.508.