BRITISH BUDGET.

Auckland Star, Volume LXI, Issue 62, 14 March 1930, Page 7

BRITISH BUDGET.

SNOWDEN'S PROBLEMS

Possibility of New Taxation Seriously Discussed. PROVISION FOR SERVICES. (British Official Wireless.). Rugby, ::.:.:i w. With the issue of the Army Estimates it is now known whaf sum the Chancellor of the Exchequer, Mr. Philip Snowden, will have to provide for the services for the year 1930-31. The total estimates are: — Army.—lo,soo,ooo, a decrease of £45,000. Navy.— £31,739,000, a decrease of £4,120.000. Air Force. — £17,850,000, an increase of £1,050,000. Civil Votes.— £295,G55,500, an increase of £5G.500.000. Cust >:h3 Excise and Inland Revenue.— £1i:,134,666. The total is £417,909,000, an increase of nearly £55,000,000. The exact amount of debt "and Consolidated Fund charges will not be disclosed until Budget day. In the last Budget the provision made for tins expenditure, including sinking fund, amounted to £379,000,000. In the coming financial year there will be a saving of £15,000,000 in the Consolidated Fund charges as payments hitherto made to local taxation account are to be transferred to the civil estimates. If the other items in the Consolidated Fund charges remain at last year's figures, and the provision for the sinking fund is not reduced, the expenditure under these headings would be £304,000,000. This would bring the total expenditure in Mr. Snowden's forthcoming Budget to £782,000,000, an increase of £40,U00,000. Of the increased expenditure £15,000,000, in addition to £1.5,000,000 transferred to the civil estimates, is attributable to relief of local taxation. Under the legislation of the late Government this can be met out of the relief suspense account, which at present has a balance of about £20,000,000. Of the increased expenditure £25,000,000 would have to be met out of ordinary sources of revenue. Whether the Chancellor, when he ir-akes his Budget statement on April 14, will find it necessary to, impose new taxation is a subject of serious discussion in the Press.