LATEST CABLES

Evening Star, Issue 17958, 3 May 1922, Page 10

LATEST CABLES

] ONDON. May 2.—ln the House- of Commons Sir I). Mm ,ran, in resinning the Budget debate, attacked the Ministry's past haphazard imposition of taxation. The Budget would have been ruined witnoul the receipt of Germany’s contribution for the maintenance o* tiro Army ot Occupation. Ho condemned the discontinuance ot debt redemption ;is disastrous and as being likely to affect our favorable foreign exchange position. Mr Bonar Law approved of the Budget as the best Hut cou.cl be expected, though ho believed that every available penny should go to the rcpavment of debts when trade was good and the revenues \yoro_ expanding. He believed that bad trade justified and demanded a reduction in the scale of repayment. Whatever am* Government might have done, he believed that the crash had to come. Mr Bonar Law said he was surprised that the -boom bad not been shorter liven. If the income tax reduction only gave a s,u;m impulse 10 trade it would help the country more than the continual inn of debt reduction on a prodigious scale. Britain must near a huge fiminma. burden for at least two generations. The only way to meet (lie |msi inn was by a rennet ion of expenditure. So far human Joresignt could tyi,. another world war was unlikely at least Ku a century. _ H it came heioic tmit Britain's real strength must consist in her strong financial position, air J. H. Thomas said that Labor objected to the (ioveriiment giving a bonus to farmers and landlords, which would have the elioefc ot preventing the .ami being cultivated, and then consoling the masses with a miserable dd per lb ° fi LONDON? Dublin seized and premises commanding another important Liffoy Bridge.—A. and N.A GafiJc.