BRITAIN’S BUDGET

Hokitika Guardian, 26 April 1939, Page 5

BRITAIN’S BUDGET

942 MILLIONS PLACED BEFORE THE COMMONS. (United Press Association—By Electric Telegraph—Copyright). (Received this day at 10.20 a.m.) RUGBY, April 25.: \ The Chancellor of the Exchequer opened the largest peace-time Budget in a crowded Commons this afternoon. It’s most impressive feature was the revelation that the expenditure on defence alone will be 650 milions. In ail taxpayers will have to find 942 million in the present year, and defence loans will bring in approximately 380 million. The chief points in the section dealing with the proposals for raising the required revenue are‘as follows: No alteration is proposed in the standard rate of income , tax, but surcharges are imposed of a further, five per cent on incomes up to eight thousand; and a further ten per cent on incomes over three thousand. A surcharge of ten per cent is added to the existing duty on estates, exceeding fifty thousand. Horse-power tax on motor vehicles a$ from next January 1, is to be increased from fifteen to twenty-five shillings. , . , . A new excise duty op. photographic j plates and films manufactured in Great r Britain, which is equivalent to; about twopence on the most popular-sizes of roll films used by amateur photographers.

The basic duty on tobacco is increased from nine shillings and sixpence to. eleven shillings and sixpence per lb. One farthing per lb is added to the duty on sugar. .