CANADIAN BUDGET.

Grey River Argus, 24 February 1927, Page 7

CANADIAN BUDGET.

REDUCTION IN TAXATION. OTTAWA, Feb. 17. Four years ago, when I presented my first Budget, Canada was still suffering the effect of postwar depression. To-day all traces of that depression hove disappeared, ’’ said Hon W. Robbs, Finance Minister in the Commons, to-day on introducing the Budget for 1927-28. Declaring his aim had been to lighten the burden on every taxpayer rather than afford relief to special groups, provinces, or sections of tho country, he announced that taxation reductions were estimated at twentyseven million dollars. The Government policy had been to promote trade relations with other countries, particularly with the Empire. He estimated the favourable trade balance for the present fiscal year approximately at 250 million dollars.

The'outstanding points of the Budget are as follow: —Estimated total revenue 394 million dollars, representing an jincrease of twelve millions, estimated expenditure 360 millions, representing an increase of five millions, estimated national debt reduction, thirty-one millions, and income and other tax reductions, twenty-seven millions. The Minister announced that five and a half per cent loans, totally ninetytwo millions, maturing in November and December next, would be redeemed by a new flotation at lower rates, thus i saving a mi-llion, dollars interest annually. The tax reductions were effected cutting the income tax by ten per cent, all round, sales tax from five to four per cent. 4 a,nd cither reducing or abolishing various stamp excise taxes. There are no tariff changes.