WELCOME NEWS.

Auckland Star, Volume LVIII, Issue 209, 5 September 1927, Page 7

WELCOME NEWS.

Higher British Taxes Not , Expected. SATS WINSTON CHURCHILL. (Received 11 a.m.) LONDON, September 4. Mr. Winston Churchill, Chancellor of the Exchequer, speaking at Kelso, Scotland, indicated that it was improbable that there would be any increase in the income tax or any re-imposition of the food taxes in the next Budget.

Mr. Churchill said that the national finances, despite last year's industrial upheaval, had stood the etrain. "We shall," he said, "come through the consequences of that trouble without having to reimpose any ot the £40,000,000 of direct taxation remitted by the present Government in 1925, or any of the £20,000,000 of indirect taxation remitted by the Labour Government in 1924. There is every expectation that we shall be able to provide every penny of our debts under the ' sinking fund, the immense total of £65,000,000 being set apart for that purpose this year." These financial facts, said the* Chancellor, had economic reactions upon the life of .the .nation..-The most notable had been, .the .steady, diminution in the cost of living by nearly one-third, which 1 meant the extension of real wages and lightened the pressure in every home throughout the land. As for the housing problem, before Parliament completed its course in 1929, one million new houses, accommodating five or six million persons, would have been constructed with State assistance during the life of the present Government.