POSITION IN BRITAIN

Evening Post, Volume CXVI, Issue 80, 2 October 1933, Page 9

POSITION IN BRITAIN

LONDON, September 30. The most encouraging,statement presented ia Britain for a considerable time is the Treasury's announcement that the expenditure for the six months ending September 30 was £324,000,000, a decreaso of £48,000,000 compared with the same period last year. The revenue was £275,000,000, an increase of £7,000,000.

The statement adds that the deficit compares wii|i £104,000,000 in September last year, and £118,000,000 in 1931. It is also considerably below tho figures for the previous three year 3. ■ It is pointed out that expenditure always oxcoeds revenue in \the first half-year owing to the bulk of tho income taxes and surtaxes being collected in the last quarter.

Tho comparative smallness of tho deficit suggests the absence of a serious setback, and there is a prospect of a Budget surplus enabling a tax reduction in 3934.

Tho Customs is one of tho largest items in the increase. Mr. Neville Chamoerlain budgoted for an increase of £730;000 for the whole year, but already has obtained £6,939,000, an increase over last year. Tho estato duties have increased by £5,250,000, as compared with last year. Stamp duties havo increased, showing an improvement h\ Stock Exchange expenditure. The position is improved by substantial savings owing to cheaper borrowing; and the continued reduction of unemployment, tho latter factor saving millions sterling. '