BUDGET SPEECH

Grey River Argus, 25 April 1913, Page 7

BUDGET SPEECH

( By Electric Telegraph— Copyright). (Per Press Association). .; LONDON, April 23. The" Budget speech was uneventful and brief; .....'• ~, . . It stated that the overseas trade had reached its highest point, and the Home trade was the heaviest on record. The coal strike had caused a loss to the revenue of .£550,000. while the withholding of . the stocks of. tea, sugar and tobacco in anticipation of the reduction of duty deprived the revenue of - Although eight million gallons less -pirits were consumed during the last four years the higher duties proi ducted an increase of f Last year expenditure . exceeded the i estimate .by 000 due chiefly to I vhc unfores-een naval increases, and additional medical remuneration tinder the Insurance Bill. The expenditure in nearly every I fountry had rushed up alarmingly through the growth of armaments' and there was small prospects of retarding. The Government confidently relied on the normal growth of revenue to meet the increased expenditure la 1913 with the exception of ;£Sis;Ooo, which was met by taking £1,000.000 not spent by the Admiralty in 1912. It was anticipated that the increases from spirits -and beer would be £922, 000. tea. and sugar £619,000. tobacco £905,000. ... The National debt was being decreased by £12,000.000 annually, It was proposed . to reinstate the practice of two finance bills, one dealing with taxes and the other with amendments to the. law.