BRITISH BUDGET

Dominion, Volume 31, Issue 179, 27 April 1938, Page 11

BRITISH BUDGET

Balance Without Increased Income Tax Expected

MEETING REARMAMENT COSTS

(British Official Wireless.)

Rugby, April 25.

The outstanding event of the week in Parliament will be the introduction of the Budget by Sir John Simon tomorrow. The Budget proposals will be debated in the House of Commons on Wednesday and Thursday. The Budget secrets have as usual been carefully guarded, but it is generally accepted that the Budget can be balanced this yea\ without an increase in the standard rate of income tax. An interesting feature of Sir John Simon's statement will have reference to the extent to which he proposes to exercise borrowing powers to meet the cost of rearmament. A special meeting of Cabinet was held at which Sir John Simon disclosed hisproposals to his colleagues. CHANCELLOR’S TASK Raising- Of £930,000,000 London, April 25. The Australian Associated Press has learned that rearmament will dominate Sir John Simon’s first Budget, which he will deliver in the House of Commons to-morrow, at 3.45 p.m. He will speak for about an hour and a half. The Chancellor’s task is to explain how he proposes to raise at least £930,000,000 during the current financial year, compared with £862,000,000 last year.