FAMILY ALLOWANCES

Grey River Argus, 20 June 1945, Page 5

FAMILY ALLOWANCES

RUGBY, June 14. If a party 1 agreement can be reached on the Family Allowances Bill, the Government hopes to rush it through before the election takes place, the Chancellor of the Exchequer (S'ir J. Anderson) stated in the Commons to-day, when moving the second, reading of the Finance Bill. This ‘“substitute” finances bill replaces the earlier bill which was dropped because of the coming election, and contains only essential provisions for carrying on the country’s finances until after the election, when a new budget will be necessary. Sir J. Anderson said the fact that the earlier bill was dropped did not mean that the Government attached little importance to its provisions. Some of them, such as tax exemption for service gratuities to which the Government and other parties were pledged, would in due course become essential and desirable. The agreement with the United States on double taxation was another matter on which Parliament would wish to pass legislation at an early date. Sir J. Anderson explained that the bill before the house fixed the national debt charges for the present year at 465 million pounds. Mr. Pethick Lawrence (Labour) said that all parties -would be willing to carry the bill through all stages. He added that whatever Parliament was elected would be glad to ratify the remission of taxation on war gratuities and make arrangements regarding double taxation between Britain and the United States. Sir Assheton Pownall (Conservative) who is chairman of the Public Accounts Committee, said that many people were asking how they were going to beai’ the immense war debt. The answer to that was simpler than might be supposed. In 1919, the percentage of interest charged was nine per cent of the national income. The percentage now was six, this lower rate being due to the great increase in national income.

After further debate the bill was passed.