BRITISH BUDGET.

Grey River Argus, 4 May 1922, Page 5

BRITISH BUDGET.

QUESTION OF DEETS v. TAXES. CONFLICTING VIEWS. [A and N. Z. Cable Association J (Received May 3, 5.5 p.m.) LONDON, May 2. In the House of Commons, Sir W. McLe an resumed the Budget debate. He attacked the Ministry- for its past haphazard’ imposition of taxation, lie spoke of meat taxation. He declared that the Budget would have been ruined without the receipt of Germany’s contribution for the maintenance of the British Army of Occupation on the Rhine. He condemned the Government’s discontinuance of the repayments for the National IJdir. It wiis a disastrous policy, and was likely to affect Britain’s favourable foreign' exchange position. Mr Boner Law said he approved the Budget as the best one that could be expected. Though he believed that every available penny should go to the repayment of the debts when trade was good ami the revenues were expanding he believed that bad trade justified, ami’ demanded, the reducing'of the scale of repayment. Whatever any Government might have done, he believed that a I einsh had to come, lie was surprised that the boom mid not been shorterlived. if the proposed income tax reduction only gave- a slight impulse to trade, it would help (lie eeunlry more than the continuing of the debt' reduction on a prodigious scale. Mr Bonar Law declared Britain must bear the huge financial burden for at least two generations. The only way to meet the position was a reduction of Government expenditure. So far as human foresight could tali, another world war was unlikely, at least for a century. If a world war came before that, Britain’s real strength must eon sist in a strong financial position. Mr Thomas (Labour) said that Labour objected to the Government giving a bonus to the farmers ami the lancL lords, which would have the effect of preventing the land being cultivated, ami then consoling the masses with a miserable 4d off the duty of tea.