BRITAIN’S BUDGET

Greymouth Evening Star, 25 October 1945, Page 5

BRITAIN’S BUDGET

PRESS COMMENTS. LONDON, October 24. Explaining the implications of the interim Budget in a broadcast, the Chancellor o'f the Exchequer (Mr. Dalton) said: “If the present price controls broke down we should be m a very bad way. There would be too much money for too few goods. The prices of these goods would rise and the value of your wages and savings would fall. To combat this you must continue to save and we must go carefully in deciding how far we can reduce taxation, thereby letting loose that purchasing power.” He added that to keep the cost of living steady the Exchequer would have to continue paying food subsidies amounting to at least £300,000,000 a year. “The Times,” in a leading article, says: “There will at the moment be little disposition to quarrel with the Chancellor’s decision in the present circumstances to increase the progressive scale of taxation rather than diminish it.” The “Daily Telegraph” says: Dr. Dalton’s Budget is generally accepted as a workmanlike effort to deal with the present situation.” The “Daily Mail,” in a leading article, says that in the circumstances nothing more could be expected.