LONDON NEWSPAPER COMMENT

Press, Volume LXXIII, Issue 22073, 22 April 1937, Page 9

LONDON NEWSPAPER COMMENT

"AVOIDED ALL EXTREMES" LIBERAL ORGAN'S PRAISE FOR CHANCELLOR r : J (Received April 21, 9.30 p.m.) •LONDON, April 20. "The Times" in an editorial says: f'Mr Chamberlain has avoided all extremes in apportioning costs between revenue and loan in the manner least likely to encourage a boom or start a downward movement." The "Daily Telegraph" says: "The new tax is an endeavour to take back at least a portion of the extra gains which may arise from the increased expenditure on armaments, but it will apply to all forms of increased business profits." The "Manchester Guardian" (Liberal) says: "Mr Chamberlain deserves high credit for anticipating the public demand for a duty on excess profits, and for allaying possible unrest because of the spectacle of high profits made from the country's need." BUOYANT REVENUES EXCHEQUER RETURNS SUPPORT BUDGET OPTIMISM (BHITISH OFFICIAL WIEELEBS.) RUGBY, April 20. The optimistic forecast of the year's revenue in the Budget statement is supported by Exchequer returns, which show that the total ordinary revenue, amounts to £37,179,660, compared with £31,145,641 at the corresponding date last year. The revenue from income tax is more than £1,000,000 higher, at £8,164,000, and the yield of customs has, jumped from £8,596,000 last year to £11,123,000 this year. The total ordinary expenditure is £43,175,039, compared with £46,931,196 at the corresponding ,date in 1936.