FRENCH FINANCE

Hawera Star, Volume XLV, 29 March 1926, Page 5

FRENCH FINANCE

A CRITICAL SITUATION. FALL OF THE FRANC NEW TAXATION. BY CABLE—PRESS ASSOCIATION—COPYRIGHT. PARIS, March 27. M. Briand, Premier, unexpectedly visited the Senate. He appeared to be upset over the fall, of the mane, which ’he remarked was most unfortunate. He anxiously inquired a,s to the prospects of the acceptance by the Senate of (the Governmient’isi financial proposals.

Earlier in the day, a. statement was made to the finance committee of the Chamber by M. Peret ,Minister of Finance, in which he .said money must be collected by the Treasury immediately and must :be collected every month. The newspapers consider that this Statement, in some -measure, contributed to the sensational fall of the franc. On the other hand, it may save the life of the Government, because no combination is willing to take over ,the desperate (situation. The Finance Cbmanittee of the Chamber of Deputies agreed 1 to new taxation, yielding an estimated revenue of 1380 million francs, including a profits tax from the conveyance of real property, an increased tax on the sale of businesses, iand* doubling the turnover tax on firms whose figures exceed a million fra nas. • \ , It i,s understood that M. Peret is willing to accept a compromise proposal to make up (the remaining deficit of over a (milliard francs by a.general turnover tax exclusively confined to wholesalers and middlemen.