FINANCES OF FRANCE.

Auckland Star, Volume LVI, Issue 261, 4 November 1925, Page 7

FINANCES OF FRANCE.

NEW MINISTRY'S TASK. . (Received 10.30 a.m.) PARIS, November 3. At an important meeting M. Painleve explained to the Socialist leadera the, < Government Ministerial programme in « regard to finance- The Government < proposed to establish a sinking fund, which will be supplied as a means to i increase the income tax, permitting some 1 sixty-five milliard francs of the debt to f be redeemed in the next fifteen years. i The Socialists indicated they were rot ] completely satisfied with the programme, explaining that some points remained i for settlement, notably credits to be 1 voted for the Moroccan-Syrian opera- s tions, which the Socialists are unable i to support in consequence of the dcci- 1 sions of the recent Marseilles Congress. < The position is thus critical. ', l If the question is not settled the Got- ! < ernment may find itself in a minority, i since the opposition group has already i announced its intention not to vote ' these credits. | In addition to the sinking fund - scheme, as reeards which an appeal is i being made to the patriotism of the i people, the programme includes a re- i duetion of military service to one year 1 and a reversion to the system of single ' member constituencies. ji The National Council of the Socialist i party decided, by 1431 votes to 1228, < not to support the new Cabinet.— (Reuter.)