BALANCED PROGRAMME

Evening Post, Volume CXXVIII, Issue 132, 1 December 1939, Page 8

BALANCED PROGRAMME

TAXES AND LOANS

AUSTRALIAN POLICY

NO FURTHER TAXATION THIS

YEAR

(Received December 1, 9".30 a.m.)

CANBERRA, This Day

Contrary to expectations, no further Commonwealth taxation is proposed during the remainder of/ the 1939-40 financial year.

The Acting Treasurer. Mr. P. C. Spender, in making this announcement in connection with his supplementary financial, statement today, said that the Governments policy was to finance the war effort by a balanced programme of taxation and by borrowing from the public and the banks. He estimated that the receipts from the revised financial proposals of last September would . total £101.490.000 and the expenditure £101,452,000, of which the defence expenditure would amount, to £62,014,000.

Mr. Spender said that in 1940-41 the Commonwealth Government will impose a comprehensive scheme of war taxation, details of which will be revealed early next year

The Minister of Customs, Mr. J. N. Lawson. announced that licensing for the importation of goods would begin tomorrow. This had been brought about by the shortage of foreign exchange in non-sterling countries.

CHANGED RELATIONSHIP

HUNGARY & RUMANIA

MINISTERS' SHARP EXCHANGE

LONDON, November 30,

The Hungarian Foreign Minister, County Czaky, replying to M. Gafencu, the Rumanian Foreign Minister, who had emphasised the justice of the Trianon Treaty governing relations between Hungary and Rumania, declared that Rumania was alone in her stubborn contention that the Trianon Treaty affected a just settlement between the two countries.

He added that modification of the treaty was not only urgently desirable for the good of Hungary, but necessary for the preservation of peace in Central Europe.

The Budapest correspondent of' "The Times" comments that this sharp exchange' marks a definite change in Hungarian - Rumanian relationships, which hitherto had maintained, at least on the sur|ace, the appearance of conciliation.

Hungary lost Translyvania to her neighbour by the Treaty of Trianon in 1920. By this treaty—the formal acknowledgment of her defeat in the Great War—Hungary lost 192,000 square kilometres of her area of 283,000, and 10,782,000 of her population of 20,886,000. The territorial losses included Croatia and Slavonia, which were incorporated in Yugoslavia, and Slovakia and Ruthenia, which went to Czecho-Slovakia. After Munich Hungary got back a substantial strip of Slovakia and the greater part ,of Ruthenia.