BRITAIN’S EXPENDITURE

Greymouth Evening Star, 11 February 1938, Page 7

BRITAIN’S EXPENDITURE

DEBATE IN COMMONS

BURDEN OF TAXATION

[BRITISH OFFICIAL WIRELESS.]

(Received February 11, 1-30 (neceivea rUGBY Fc bruary 10. Attention was called in a Commons debate -to the growth in the nat J° and local expenditure, when a motion was moved ur B m ß the government to do everything in its power to lighten the burdens imposed upon all classe of taxpayers and ratepayers. In moving the motion, Captain Bab fnnr said that the national expendituie in 1937-38 was £257,000,000 more than in 1928-29, despite a saving of abo t £140,000,000 on debt seuyices. meet this, direct taxation was sta ’ l(l ’"» at war-time level, m policy onb ias to be found a way of adjusting drastically the relation between revenue J and expenditure. Revived intel ’^ loaa trade, and a saving on penditure, by means of a convention, must be looked The Financial Secretary to Treasury, on behalf of the Government, approved the motion. He said that the increase in national expend - tore since 1932 had been due to the defence and social services. The sup ply services showed an increase £150,000,000. Defence expendituie accounted for £93,000,000, and the civil Services showed an increase £54,800,000. While the increase m expenditure was accounted for by the cost of services which the Commons had agreed would be necessaij, i would be wrong to leave the impression that it. was viewed with equanimity by the Government. It was realised that, the present burden of taxat J? n made it imperative that no fresh c<Jn mitmeiits should be entered into, unless they were justified on the clearest possible ground of public interest. The Government was alive to the dangei oi the effect of high taxes, and to the very real and universal desire to economise on armaments, as soon as possible. The Government intended to effect that reduction by agreement at the earliest, time when it. could safely be done.

Mr. Chamberlain agreed to a. suggestion by Mr Attlee, that a day should be given for a general discussion on defence, before the estimates for the individual services were taken. He also consented for a White Paper to be issued in advance of the debate, giving details of the progress of rearmament. and the work of Sir f. Inskip., REVENUE RETURNS. RUGBY, February 9. The national revenue returns are regarded by the newspapers as indicating that the Chancellor of the Exchequer’s estimates for the full year are likely to be reached without difficulty. .1,7 Income tax last week yielded £317,771,000, £4,298.000 more than* in the corresponding period of 1937. Since the beginning of the financial year there has been an increase of £23,776,000 in income tax receipts. The total ordinary revenue to date amounts to £668,038,930. nearly £35,000,000 more than a year ago. Receipts last week exceeded expenditure by £19.214,917. and the current deficit was reduced to £73,162,277, compared with a deficit of £66,562,393 this time last year.