Greymouth Evening Star. AND BRUNNERTON ADVOCATE FRIDAY, MAY 1st., 1925. HOMELAND BUDGET.

Greymouth Evening Star, 1 May 1925, Page 4

Greymouth Evening Star. AND BRUNNERTON ADVOCATE FRIDAY, MAY 1st., 1925. HOMELAND BUDGET.

Mr. Churchill’s first budget is not lacking in courage, and it is sufficient .answer to those who unfold doleful stories of the ruin facing Homeland industries through foreign competition. No doubt, some British trades' are finding present conditions onerous, the lower wages and longer hours in foreign industries enabling these to under-bid British manufacturers, but that is no new story • Such competition has always been severe, and is always likely to he. Admittedly, there is much unemployment in Britain, and there is scope for improvement in various directions, but the worst is over, and given freedom from strikes, or impracticable attitudes by trade unions and employers, the Motherland should gradually regain former supremacy. A country which can produce a record such as was outlined in Mr. Churchill’s statement cannot be in a “hopeless position.” The fact that it is possible to resume the gold standard,

and (the return o£ sterling to par value, is string evidence to the contrary. There ‘has been much debate as to the wisdom of a policy of gold standard; resumption, but the majority of 1 ‘experts” Were in'favour, And the case for it is ably outlined, in articles which we publish to-day in / another column. Other features of the Budget did not hint, at national. bankruptcy. The . estimated surplus is £26,000,000, to be augmented by £10,000,000 from new taxation, pension. .payments ~are ~ to be widened and. increased,.... income and other taxes have been reduced, and the., national, debt gets annually lower! If *this is “suffering from ruin,” most other nations would be glad to have half the complaint. The figures quoted by the Chancellor demonstrated the enormous resources of the Motherland, and the magnitude of the task of- those entrusted with the management of .the, country. The effort to secure greater administra-t tive economy will.be -furthered by the new (standing and its scrutiny .of Departmental expenditure should prove valuable. The Budget proposals i could not be regarded as sensational.' higher death duties will be popular finance, and the end'is not yet reached, in this, mulcting of big estates. The return' of the McKenna duties on such articles as motor-cars, cinematographic. films, etc., is simply , a reversal-.of the Labour Government’s policy. Itafforded ground, for criticism from die-hard’ free-traders, who spoke of back-door protection, but. it was known that Mr. Baldwin’s Ministry would restore such duties, and encourage Empire preference, so far as was consistent with, the last election pledges. Whilst Mr. Churchill is in office, there is unlikely to be great departures from the traditional free trade policy. It was .a distinct score for a Conservative. to . A introduce pensions* for. and to enlarge,. otherwise, the national' pensions' facilities, and this will be effective when answering Labour charges that the Baldwin Ministry ignored, the interest’s of the . poorer classes. Nobody expected that this year’s budget would be as a cureall for all the social or economic ills of the Motherland, but it must be admitted that an honest effort has been made to meet the present situation, and. to do something in the way of betterment. Mr. Churchill deserved the congratulations and ‘commendations Which followed his statement, and havingwon his spurs in the \ financial arena, he - may be ' confidently looked to for greater things next year. ' -"' -: ■' ■ . 7