BRITAIN'S FINANCES

Evening Post, Volume CV, Issue 91, 17 April 1923, Page 7

BRITAIN'S FINANCES

SURPLUS OF 101 MILLIONS

."THE BEST OF ALL CAUSES.'

CTOIIBD PRESS ASSOCIATION.—COPIKIGHT.) ' | . NEW ZEALAND CABLE ASSOCIATION.) (Received 17th April, 10.30 a.m.) LONDON, 16th April. The Chancellor of the Exchequer (Mr. Stanley Baldwin) delivered his Budget in the House of Commons. The financial year, he said, had become steadily better as it proceeded. Unemployment, though still grievous, had decreased. There was a surplus of £101,000,000, which had gone to the reduction of the debt, but there would be plenty debt for the present generation's grandchildren to deal with when their time came. Customs and excise duties showed a surplus of £7,000,000 over the estimate, inland revenue yielded £36,300,000 over the estimate. The surplus for the year arose from the best of all possible causes—a reduction In expenditure, which was £97,----000,000 loss than the estimate. The surplus, continued Mr. Baldwin, would i be devoted to a reduction of the debt. ■The estimates for 1 the ensuing- year show an expected surplus of '£36,000,----000. Income tax is to be reduced by 6d and, Id a pint is to be taken off beer. A considerable reduction is to be made in. the postage rates. Sixpence is to be taken off the Corporation profits tax aft",r the 30th June.