NEW BUDGET IN BRITAIN
Butler May Impose New Taxes (N.Z. Press Association—Copyright) (Rec. 10.30 p.m.) LONDON, October 20. Britons awaiting an autumn Budget statement from tlie Government next Wednesday expect to be told that they will have to forgo some luxuries until the nation has killed the present inflationary tendencies. Sir Anthony Eden’s announcement last night that a supplementary autumn Budget will be introduced was the climax to weeks of Government discussion on methods to be adopted to ke»p sterling strong and the country’s economy healthy. The final decisions were taken at a meeting of the Cabinet on Tuesday. The Prime Minister s reference to ’’some fiscal measures” intensified speculation on possible new taxes, with the general assumption that the purchase tax controlling the public demand for luxury goods was being closely studied. Some observers thought the investment allowances for industry—a subsidy on new capital investment—would be suspended. It was considered unlikely that direct taxation would go up.
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Press, Volume XCII, Issue 27795, 21 October 1955, Page 13
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158NEW BUDGET IN BRITAIN Press, Volume XCII, Issue 27795, 21 October 1955, Page 13
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