THE BUDGET SPEECH.

Hastings Standard, Issue 311, 1 May 1897, Page 3

THE BUDGET SPEECH.

THE NATIONAL DEBT REDUCED. STRENGTHENING THE CAPE GARRISON. ' P«<r Press A-wriation.—Coju/rii/ht /. London, April 29. In the House of Commons Sir Michael Hicks-Beach introduced the Budget, which shows an additional expenditure of £200,000 for the South African garrison, and £500,000 for increasing the strength of the navy. April 80. In bis Budget speech Sir Michael Hicks-Beach said the revival of trade had been well maintained during the year. The receipts totalled £103,950,000 and the expenditure £101,477,000. The expenses in connection with the navy had increased 40 par cent during the last live years, and in connection with education 43 per cent. It was doubtful if the elemenary education system gave the best value for the expenditure incurred. During the year the national debt had been reduced to the extent of £7,581,000. The estimated receipts during the coming year were £100,360,900, and the expenditure £101,791,000. The garrison at tbe Capa would be materially increased but this was being done in no aggressive spirit. Great Britain intended to fulfil all her obligations and it was expected that others would do the same. The proposed increase of postal and telegraphic facilities, the reduction of the parcel rate, and the reduction of the foreign and colonial letter rate to twopence if the Postal Union would consent, would absorb £866,000. The balance of the surplus would go to provide education in Ireland and Scotland and a generous reception |to the Jubilee guests. Sir Michael stated that a great change in - the fiscal policy might become necessary.