BRITISH ARMAMENTS

Grey River Argus, 28 May 1938, Page 7

BRITISH ARMAMENTS

EFFECT OF HUGE OUTLAY Unbalanced Budget [.British Official Wireless.] RUGBY, May 26. Speaking in the finance debate in the Commons, Mr A. V. Alexander (Labour) declared that the Government had increased the dead-weight debt from £7,400,000 to £8,500,000, and had started a series of unbalanced budgets, after absorbing for expenditure the whole of the economies on the war loan conversion operation His criticism of the Finance Bill be based on the contrast he sought to draw between profiteering, which he alleged was taking place out of rearmament. and from State subsidies on one hand and heavy indirect taxation on the other.

The Chancellor of the Exchequer, replying, said there was no proof that there had been vast profiteering in armaments.’ He rebutted the suggestion that taxation was inequitably distributed, and. referring to the balancing of the budget and borrowing, said that he kept two propositions in mind, in considering the right course to adopt. The first was that borrowing only postponed payment. It did not obviate it. The second was that the increased burdens they faced to-day were not likely to be reduced quickly or substantially.

The Chancellor then made an important announcement on the relief, to be afforded. In respect to air-raid | precautions, he said that the Govern-] ment would introduce legislation to secure that the annual values of properties should not be increased, for the purposes either of income-tax or rating, by reason of expenditure incurred in structural alterations, additional, or improvements, made solely for the purpose of protection in the event of air-raids. WAR SUPPLY PURCHASES. LONDON, May 26. The Government introduced in the Commons an “Essential Commodities Bill,” regularising past purchases of wheat, sugar, and whale oil, as percautions in the event of war, and authorising future purchases of food, fertilisers, animal feeding stuffs, petroleum products, and the erection of storage warehouses. A fund will be created, into which will be paid sums periodically voted by Parliament. LABOUR SUPPLY FOR ARMAMENTS. RUGBY, May 26. Mr Chamberlain, Lord Halifax, and Sir T. Inskin met the General Council of the Trade Union Congress, in continuation of the meeting of March 23, when the question of the acceleration of the rearmament programme was under discussion. ARMY RECRUITING. RUGBY, May 25. Recruiting officers from all parts of the country reported a rush of recruits for the Regular Army last week. The total was 936, an increase of 614 or 190.7 per cent, over the corresponding period last year and a record for any week since the war.