THE BRITISH BUDGET

Dominion, Volume 18, Issue 192, 9 May 1924, Page 7

THE BRITISH BUDGET

COMMENDED BY MR. ASQUITH “THOSE RIDICULOUS PREFERENCES” EARLY DISSOLUTION UNLIKELY Mr. Asquith says the Budget Is not a Labour Budget, but a Liberal and Free-trade Budget. He commends the Government for withstanding the demands for colonial preferences and for repealing the McKenna duties, and expresses the opinion that a dissolution Is not likely during the next three months. By Telegraph—Press Association. Copyright. (Rec. Mav 8, 7.20 p.m.) London, May 8. Mr. Asquith, speaking at Chelmsford. said the Budget was not a Labour Budeet. but a Liberal and Freetrade Budget, for which the Liberal Party intended to vote wholeheartedly. The Government had shown wisdom and courage in withstanding the de-, mands for “these ridiculous colonial' preferences.” and in its repeal of the McKenna duties. He hoped they' would not yield over the latter, which were not imposed originally for protective purposes, but simply because it was vital that cargo space should not be occupied in war time by cumbrous objects of luxury. He was of opinion that it was unlikely that there would be a dissolution during the next twelve months.—Aus.-N.Z. Cable Assn. I MR. CHURCHILL ATTACKS THE GOVERNMENT “THE ONLY ROAD TO VICTORY” Glee. May 8, 7.20 p.m.) London, May 8. Considerable interest is evinced in Mr. Churchill’s speech at Liverpool, because it was the first Conservative meeting he had addressed for twenty years. Mr. Churchill scathingly attacked the Government. He declared that the Budget was an example from beginning to end of Socialistic inconsistency and insincerity. He defended the McKenna duties, and condemned the Government’s attitude on Imperial preference. Finally, he declared, “My policy is for a strong, active Conservative party, united under its own leaders, with a Liberal wing co-opera-ting in order to make common cause in an endeavour to secure the defeat of Socialism at the polls. Such w> operation would involve adherence by the Conservative Party to a broad, progressive policy, such as the leaders had now definitely adopted. That is the only road to victory.”—Aus.-N.Z. Cable Assn. LOSS TO BRITISH PAPER INDUSTRY BY REJECTION OF PREFERENCE (Rec. May 8. 9.50 p.m.) London, May 7. , In the House of .Commons Sir Vausittart Bo water asked if the Chancellor of the Exchequer would reconsider the decision regarding Imperial Preference, in view of the loss to the British paper industry and the great increase in unemployment caused by the threatened loss of £3 a ton preference on English-made newsprint, delivered in Australia, over foreign. Mr. W. Graham (Financial Secretary to the Treasury) said he was unaware that the Australian Government intended to alter the arrangement, but negotiations had been progressing for some time for the conclusion of a trade agreement between Australia and Canada. —Reuter. REPEAL OF McKENNA DUTIES POSTPONEMENT RUMOURED (Rec. May 8, 5.5 p.m.) London, May 7. The "Evening Standard” understands that there is a likelihood that Mr. Philip Snowden will postpone the repeal of the McKenna duties till Decomber 31Mr. Snowden has been overwhelmed with representations against the repeal from many quarters, including a considerable section of the Labour Party, especially representatives of the constituencies where the affected trades are carried on. —Sydney Sun Cable. DENIAL BY ‘DAILY HERALD’ (Rec. May 8, 7.20 p.m.) London, May 8. The “Daily Herald” declares that the statement regarding the postpone•ment of the repeal of the McKenna duties until December 31 was unfound-ed.—Aus.-N.Z. Cable Assn. '■