HAPPY FINANCING.
Lower Deficit and No Extra
Taxation. CANADIAN BUDGET RELIEF. (Received 1.30 p.m.) OTTAWA, February 25. The Federal Treasurer, Mr. Charles Dunning, in his Budget estimated that the deficit would be cut from 87,000,000 dollars to 35,000,000 dollars. No brighter outlook had been experienced since 1929. It would lie possible, without a single taxation increase, to balance the Budget next year. The last tax-free war bond was absorbed. The Civil Service 10 per cent economy wage cut was restored.
"The new trade pact with Britain," said Mr. Dunning, "retains all the Canadian advantages of the 1932 Ottawa agreement, with greater preference for fish, lumber and dairy products. Britain has been granted greater preference on 150 items, particularly textiles, coal and manufactured goods. The agreement will expire in 1940.''
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Bibliographic details
Auckland Star, Volume LXVIII, Issue 48, 26 February 1937, Page 7
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129HAPPY FINANCING. Auckland Star, Volume LXVIII, Issue 48, 26 February 1937, Page 7
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