SUDDEN CHANGE

Dominion, Volume 19, Issue 157, 30 March 1926, Page 7

SUDDEN CHANGE

FRENCH GOVERNMENT AVOIDS DEFEAT BUSINESS TURNOVER TAX ABANDONED ALTERNATIVE PROPOSAL Br Telegraph.—Press Association CoPyetgHt. Paris, March 28. The political-financial situation has been drastically transformed. he Government’s fate on Friday seemed sealed owing to Socialists and Radicals opposing an increase in the business turnover tax, on which the Government insisted, but on 'Saturday M. Peret (Finance Minister) suddenly informed the Finance Committee of the Chamber of Deputies that he had given up this tax and would instead submit proposals to increase certain indirect taxes, especially on wines, beers, and spirits and certain stamp duties. .. M. Peret asked for a little, time to put the finishing touches to the new project. The committee readily agreed. Thus 1 an anti-Government majority on the turnover tax was averted. An eleventh-hour amendment by Deputy Margaine in favour of a State monopoly of petroleum and sugar was adopted by- the Finance Committee. It provides for the State control of the importation of raw petroleum and its derivatives and sugar from January 1, 1.927, but it is in no w;av certain that Parliament will pass it.—Reuter.

NEW COMMUNIST DEPUTIES (Rec. March 29, 7.45 p.m.) Paris, March 29. Two Communists were returned at a Parliamentary by-election in the second sector of Paris. The Radical Socialist executive urged its candidates. to withdraw in favour of the Communists. —Renter.