BUDGET PRELUDE

Evening Post, Volume CVII, Issue 55, 8 March 1929, Page 9

BUDGET PRELUDE

COMMERCIAL OPINION

CHURCHILL INTERVIEWED

OPTIMISTIC REPLY

British Official Wireless. 'KUGBY, Oth March. Mr. Winston Churchill, Chancellor of the Exchequer, yesterday received a deputation from the Association of British Chambers of Commerce. It is customary for the Chancellor to rcceivo such a' deputation before the preparation of the Budget to enable representatives of commerco to place their views before the Chancellor on finan-; cial- questions. The deputation expressed gratitude to tho Government for tho derating scheme, which they, believed would be of great assistance jto producers and manufacturers, emphasised the need for tax remission, and advocated" the introduction of the penny postage. Mr. Churchill, replying, undertook to give consideration to the representations made. Referring to the outlook regarding revenue, ho remarked that they had started tho calendar in January with as usual a very heavy deficit of over £130,000,000, due to the fact that the expenditure flows out evenly over the whole year, but the great bulk" of the revenue comes in in last quartor. That deficit had already been reduced by £100,000,000, and was only just over £30,000,000, with three weeks and a half of the financial year still to go. They were engaged at present in surveying samples of estimated profits for 1928, on which a forecast of the amount of income-tax for next year was based. These samples numbered many thousands, and it was on them that extremely accurate forecasts were based. He would not have the results for another fortnight, but Jio had a feeling that tilings would not be so badly for Britain, provided no violent dislocation' and disturbance occurred in our affairs.