BRITISH FINANCE

Evening Star, Issue 18021, 15 July 1922, Page 4

BRITISH FINANCE

INEFFECTIVE CRITICISM r THE TREASURER’S ANSWER, i Press .Association—By Telegraph—CopyrigfU. LONDON, July 14. (Received July IS, at 9.40 a.m.) On the thud reading of the Finance Bill Mr Asquith said the Budget was founded on conjecture and hope. Although since tho armistice nearly £1,100,000,000 of war assets had been realised, none had gone towards reducing tire debt. Instead the money had been treated as revenue. Colonel Wedgwood (Labor) said the Labor Party opposed the Budget on the ground that it benefited the rich at the expense of the poor. The Chancellor of the Exchequer (Sir Robert Horne), in defending the Budget, said that Mr ■ Asquith’s gloomy prognostications so far had been entirely falsified. Oar credit and the value of our currency ctood higher than at any time since 1914. He reminded the House that tho Government had been obliged to meet war cheques in excess of the war assets. The request from America, to consider the funding of our debt to her was one which would be completely met. Our floating debt had been reduced by £409,000,000 since July, 1921. Of this, £71,000,000 waa paid since March last.—-A. and N.Z. Cable.