CANADA’S BUDGET

Hawera Star, Volume XLVII, 17 February 1928, Page 9

CANADA’S BUDGET

REDUCTIONS IN DEBT MADE. EMPIRE TRADE. BRITISH PREFERENTIAL TARIFF. BY CABLE—PRESS ASSOCIATION—COPYRIGHT Received 12.45 p.m. to-dav. OTTAWA, Feb. 16. In delivering the Budget on Thursday, the Hon. J. A. Robb, Minister of Finance, announced that the nett debt reduction for the fiscal year, .1927-28, was £13,800,000 dollars. Regarding Empire trade, he said that imports to secure the advantage of British preferential tariff must now be fifty per cent, of Empire labour and materials, instead of twenty-five per cent. A similar increase was required in the case of goods entering under treat}- rates and the intermediate tariff.—A.P.A. and “’Sun.” - EXPENDITURE AND REVENUE. Received 12.55 p.m. to-dav. OTTAWA, Feb. 16. Mr. Robb brought down his Budget this afternoon. The revenue was estimated at 419 million dollars and the expenditure at 3'64 million, leaving an estimate surplus of approximately 55 millions, from which approximately 39 millions would be applied to debt reduction during 1927-28. The. minister stated that international trade had been well maintained. TAX REDUCTIONS PROPOSED. OTTAWA, Feb. 16. Tax reductions total 19 million dollars, including 10 per cent, on the income tax. Tariff changes include a material reduction on a large range or houysehld cottons.