ATTACK ON BUDGET

Feilding Star, Volume 8, Issue 2560, 17 April 1930, Page 6

ATTACK ON BUDGET

OPENING DEBATE NEW TAXES UNNECESSARY MR. CHURCHILL'S JIBES (Aust. and N.Z. Cabin) London, April 15. In llie House of,Commons Mr. Winston Churchill, an ex-Chancellor of the Exchequer, opening tlie attack on the Budget, said lie thought that in taxation Britain had reached a point when it had become a grev impediment to the |'revision of new wealth. M . Snowden was imposing 41U- inillioii s of new taxation. If tlie Government hud not been changed the new taxes would not have been needed. Th popularity of tli e -Is (id in the £ income tax had been assured by reducing the number of payers hereof to limits where its voting power was negligible. Recalling Mr. Snowden’s dictum that nobody need fear a Labour Budget lmt the idle rich. Mr. Churchill stated that the modern productive millionaire was a highly economical animal, saving mor e than he continued. He was a potent ally of the Chancellor, as liis payment s of supertax and insurance for death duties already amounted to 14s in the £. They would now b e 17s in tlie £l. When they impaired tlie rich man's incentive to suv e and reinvest, the injury fell on the wliol e community. Mr. Snowden on the one hand was professing the strictest Ununcial orthodoxy, while Socialist agitutors were handing out “hush doles” with both hands, and both were sending in tin bill to the taxpayer. The only benefleiaries of the Budget were the bookmakers. After Mr. Churchill and Mr. Maxton (Labour) had spoken, the debate sagged anti th e House was counted out.