BRITISH FINANCE
PRESENT SPENDING MEANS
BANKRUPTCY,
Press Association—By Telegraph—Copyright. Australian and N.Z. Cable Association.
LONDON, August 7. In a pessimistio review of the financial situation in the House of Commons tha Chancellor of tho Exchequer (Mr Chamberlain) said that if the country continual spending at the present rate it would lead straight to national bankruptcy. It was essential to increase production and reduce expenditure. The Budget forecast would fail to realise expectations. The expenditure sanctioned for pensions alone amounted to half tho pro-war expenditure. The impossibility of discontinuing the food control had had a serious effect on the Budget, as it had been hoped to realise £70,000,000 by the sale of the Government's supplies. He doubted whether it would bo possible to halanco the accounts without new taxation. Tho only way to deal with exchanges was to reduce the imjort luxuries and to increase exports. Waste should stop. There was nothing in tho position beyond the nation's power if it tackled the problem with the game resolution as it displayed in the war.
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Bibliographic details
Evening Star, Issue 17118, 11 August 1919, Page 6
Word Count
173BRITISH FINANCE Evening Star, Issue 17118, 11 August 1919, Page 6
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