NEED FOR ECONOMY
THE ONLY POSSIBLE WAY
SNOWDEN POINTS TO NAVY
;'; , LONDON, Ist February. "I regret that I am unable to speak sanguinely regarding the Eevenuc side of the account," said the Chancellor of tho Exchequer, Mr. Snowden, at Leeds. "Unless tho income tax receipts improve considerably before the end 6f March, we1 shall probably find that tho Budget estimates are not realised. Stamp duties'will probably be several millions short. Estate duties also are down. The'only possibility of a reduction of expenditure is in armaments and war debts. If trade improves, accompanied by cheaper money, for which we are hoping before long, we ■ may make an impression on the huge national debt,' enabling a reduction in taxation, but; the national finance must pay its way. We shall not commit raids and live on capital or outside capital to meet current and recurrent expenditure."
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Bibliographic details
Evening Post, Volume CIX, Issue 28, 3 February 1930, Page 9
Word Count
143NEED FOR ECONOMY Evening Post, Volume CIX, Issue 28, 3 February 1930, Page 9
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