BRITAIN PAYS.
THE WAR DEBT BILL.
Allies Allowed To Repudiate
Liability.
SNOWDEN'S ATTACK
(Australian I'ress Assn.—United Service.! (Received p.m.) LONDON". April 10. In the House of Commons 3lr. Philip Snowden, Chancellor of the Exchequer in the Labour (Jovornmcnl. criticising the Budget, said the countrv had been disillusioned concerning Mr. Churchill's earlier pronouncements in favour of economy. r l !:e new remissions of taxation merely represented another raiding of the Sinking Fund.
Xo more scandalous transaction had ever been made by a British Minister than the settlement of tiie Continental debts to Britain. Frame had been allowed to repudiate four-fifths of the debt to Britain though, since the war, France had been the most prosperous country in Europe. The case of Italy was even worse. We had done for France and Italy what the tinted Slates had not done. The total debt ratified, agreed to or funded amouiiLCC to £ i..";0(l.00(i.000. on which the taxpayer was paying live per cent interest. Mr. Churchill had commuted on these debts for iJu.nOO.OOO a year, while we were paying the United States £37,000,000.
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Bibliographic details
Auckland Star, Volume LX, Issue 90, 17 April 1929, Page 7
Word Count
178BRITAIN PAYS. Auckland Star, Volume LX, Issue 90, 17 April 1929, Page 7
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