BUDGET APPROVED

Dominion, Volume 26, Issue 182, 29 April 1933, Page 11

BUDGET APPROVED

“Best Use of Resources” CHANCELLOR’S REPLY Pessimism Deprecated LABOUR MEMBER’S “GAG” (By Telegraph.—Press Assn.—Copy right.) (Recevied April 28, 7.10 p.m.) London, April 27. Mr. Neville Chamberlain, Cliancellor of the Exchequer, replying tv the debate on the Budget, claimed I that there had been no serious at- ; tack on the Budget from any quarter I of the House, Mr. Amery almost alone maintaining that the Chancellor ought deliberately to have an unbalanced Budget in order to take something off the income tax, (his at a time of extraordinary difficulty. The Government had made 'he best’ use of the resources available. Mr. Chamberlain deprecated continual pessimism. Personally he believed the country had the greatest prospect of regaining some of the £364,000,000 of foreign trade which had disappeared. The improved prospects were due to what Mr. MacDonald had done nt Washington in encouraging International collaboration. Mr. Jack Jones (Labour) caused a roar of laughter during his speech by describing tiie Budget as a “Beer and Bunk Budget.” The House agreed to the resolutions. AID FOR INVESTMENTS II ■ — Value of Reduced Taxation London, April 27. The Rt. Hon. L. S. Amery (Con.), in the course of the Budget debate, while welcoming the reduction of taxation on new capital Issues, said he wished the whole system could be recast, giving preference to investments within the country. He believed the sugar taxation system could be made to vield an additional £12,000,000 without hardship to the consumer. “At tiie same time by abolishing subsidies.” lie said, “we have deliberately thrown away the chance of raising substantial revenue by the taxation of foreign meat, and are now negotiating a treaty which will probably preclude us from doing so for years to come."