BRITISH FINANCE.

Press, Volume LXVII, Issue 20316, 15 August 1931, Page 15

BRITISH FINANCE.

economy proposals I CONSIDERED. | OPPOSITION LEADERS CONSULTED. Ur.msH oinctiL wiheless.) j T! 0 ,. August 13. j io Cabinet sub-coinmi£tee which is I io oov.se ulans for balancing the Bud- j fcet lias resumed its deliberations, but i© process of the committee's j: i Tt Unn ?U the econom y proposals. will not jor the present be disclosed, -.nd some time must necessarily elapse PhiHn i t . aSk 18 com P leted - Mr i hihp Snowden, Chancellor of the Exchequer, ts anxious to launch his conWhOU C ° nditionS al ' e nitim ial f attaches ; to theexneotinrr r le vei ' n ment is expecting from the Opposition Parties in its economic plans. It is Generally assumed that the meetings of theCabl net Committee will be followed by an un.tation to the representatives of 4" S ll n ll ,? a, ; ties to a conference! &ir Donald Maclean, M.P. ex-chair-mant °f the Liberal Parliamentary raitj. 'n a speech referring to tlie £ ' ail^ u ' sa . id: "Our Budget , , 1 Q 'Situation not only tWnnf mte ™?tion!illy. We are still *l®, -p entre . of , international financial stability; m fact, the bankers of the workl. lfc 13 necessary at present to prepare tor a Budget so balanced that everyone -an see that the facts have been 'ace l. It is necessary that sacrifices shall be made. The task must be undertaken, as was the war, by tlio nauon as a whole." , r Tl is "Prime Minister, Mr Ramsay, MaeUonrud. returned to Scotland this evening. Sacrifice Involved. It is generally recognised that ihe economy measures must involve sacrifices on the parts of all sections of the community, and the plans now engaging attention are understood to be designed to secure as far as possible an even distribution of tlie burden. Tho national expenditure was examined by tho Cabinet Committee, which, it is reported, has drafted in broad outline certain proposals which will be examined in detail bv the Treasury. Tho Prime Minister will return to London to attend the next meeting, of the Cabinet Committee on Monday,' when a more precise examination of tho proposals will he undertaken. The lull Cabinet has been summoned for Wednesday. Almost immediate legislation may be necessary to give effect to some of its decisions. It is recalled that the motion for the adjournment of the House of Commons provided that if it appeared to the Speaker that the public interest demanded reassembly before October. ho miszht fix a date for an earlier meeting. Mr Stanley Baldwin and Mr Neville Chamberlain had ' a lialf-hour conference with Mr Ramsay Mac Donald at Downing Street. Sir Herbert Samuel, chairman of the Liberal organisation, also conferred with Mr Mac Donald and Mr Philip Snowden AN EARL'S ECONOMY. GIVING UP HORSE-RACING. (I'KITED TRESS ASSOCIATION —Br SLT.CTRIC TELEOIIAt'H—COI>TBIGHT.) (Received August 14 th, 10 p.m.) LONDON, August 14. Ovring to industrial unrest, taxation prospects, and grave agricultural distress, Lord Lonsdale has decided to give up horse-racing. [The Earl of Lonsdale, who is 74 years of age, has been described as "a fine example of tlie type of jovial, sportloving, landed gentry, which is fast disappearing in England." He ottos about 175,000 acres : in Westmoreland and Cumberland. For many years he has been a zealous patron of sport — fox-bunting, horse-racing, coursing, shooting, boxing, and yachting. lie is popularly known as the "Yellow Earl" because of his liking for yellow liveries, carriages, and motor-cars. He has a beautiful home at Lowther Castle, where in other days, he entertained the exKaiser. Few people have seen the Earl without a cigar in his mouth, and it is said that he has smoked over ten tons of cigars in his time.]