ROBB'S BUDGET.

Press, Volume LXII, Issue 18668, 17 April 1926, Page 15

ROBB'S BUDGET.

CANADA'S SURPLUS, RECORD TRADE BALANCE. (BT CIBX.K PBISS ASBOCUTIOK—COrTBIOHT.) (AtJST3ALIAK AND S.S. CUJLE ASSOCIATION.) (Received April 16th, 5.5 p.m.) OTTAWA, April 15. Mr Eobb, Minister of Finance, in bringing down his Budget to-day, announced tax reductions affecting all classes, estimated at 25,000.000 dollars, chiefly on income-tax. Reviewing the Dominion's finance, Mr Robh stated that the ordinary revenuo had increased by 29,965,520 dollars, that there was a surplus on ordinary revenue over ordinary expenditure amounting to 55,000,000 dollars, and that the National Railways had earned 33,000,000 dollars in excess of operating and income charges, exclusive of interest. Canada's trade showed the favourable balance of 402,000,000 dollars, constituting a record for any year sine* the war. The income-tax exemption would be increased from 2000 to 3000 dollars for married men without dependents, and from 10000 to 1500 dollars for single men. Penny, postage throughout Canada would be resumed on July Ist. The duty on automobiles at a retail value of not more than 1200 dollars, and on motor-trucks, would bo reduced 20 per cent., general tariff 17} per cent., and intermediate 13}. British preference on automobiles, the values of which are more than 1200 dollars, and general tariff would be reduced to 27}, 25, and 15 per cent, to encourage the Canadian automobile industry. A drawback of 25 per cent, will be paid on materials used in manufacture, provided at least 50 per cent, of tho finished articles is produced in Canada. The Minister announced a surplus of 22,353,000 dollars tpwardß the reduction of debt over all services, and stated that the British preferential tariff will apply only to goods conveyed direct without transhipment after January ' Ist next.