SEEN IN BRITAIN

Evening Post, Volume CXXX, Issue 22, 25 July 1940, Page 11

SEEN IN BRITAIN

PRESS COMMENT ON THE BUDGET WHY WAS IT RUSHED? INADEQUACY SUGGESTED (By Telegraph—Press Association —Copyright.) LONDON. July 24. "The Times" says: "The Budget proposals are quite inadequate from the viewpoint of preventing a continuation and acceleration of the rise in the general level- of prices, because it does not touch by far the greater fraction of extra incomes and wages which are the counterpart of the increased excess of disbursements lover receipts by the Exchequer. [In the current year this excess will jbe spent on a diminishing quantity of; I goods, and this invites inflation unless far more drastic steps are con- j templated, apart from the Budget, j to divert moneys back to the Exchequer." The "Daily Telegraph" 7 says: "The Budget is disappointing because it lags considerably behind the necessities of the hour and the expectations of the nation. In the light of the Chancellor's I figures it is difficult to share his confidence that we will escape inflation without much more drastic taxation." The "Financial News" asks in a leader: "Why has this, of all Budgets, been rushed? Sir Kingsley .Wood may intend to do more next time, but there are very good reasons to conclude that we certainly have inflation by our front door."' It adds, "Wars are not financed by 'tomorrow' and 'might-have-beens/ " The "Manchester Guardian says: "The Budget filled the bill last April, but it is shockingly inadequate today. It misses a great psychological opportunity for demanding sacrifices when the public was never more ready to make sacrifices." (British Official Wireless.} (Received July 25, 11 a.m.) KUGBY, July 24. The "Manchester Guardian," discussing the Budget, questions if the proposals are adequate to the dangers Of inflation, and thinks that some form of compulsory savings will be necessary. The "Daily Mail" finds on awareness in the Budget of the need for a revolution in financial methods. The same.thought is put in another way by the "Daily Express," \siich says that Sir Kingsley Wood produced an orthodox Budget to pay for an unorthodox war.