BRITISH BUDGET

Manawatu Standard, Volume L, Issue 119, 16 April 1930, Page 9

BRITISH BUDGET

EFFECT ON NOTTINGHAM. ■ • STAPLE INDUSTRY MENACE. COMMENT IN THE PRESS.* (United Press Association.—By Electric Telegr apli,—*Copyright.) LONDON, April 15. None of the political parties is specially enthusiastic over the Budget. The Conservatives criticise it as commonplace. The Liberals describe it as steep, but straightforward, while Labour members are more concerned over the omissions than the contents. It is estimated in the lobby that the increase of 6d. in the income tax will yield £29,000,000 in a full year, but the changes in graduation decreases the yield to £24,000,000. Nottingham is the storm centre of the Budget, as the duties on lace expire in ten weeks, when the staple industry of the town will.be menaced by unrestricted foreign imports. Manufacturers say that there is consternation at the decision not to renew the saft-guarding duties, especially as me threatened increase in United States duties is virtually prohibitive on British laces. The motor industry welcomes the retention of the McKenna Duties, although the unexpected relief in the horse-power tax has not materialised.

Industry generally is relieved at the fact that there is no further taxation. The Daily Telegraph says: “The Budget is another step on the dangerous road, at the end of which threequarters or seven-eights of the community will be enjoying full political power and complete control of the expenditure without’ personal contribution to the revenue, except through the consumption of tobacco, spirits, beer and a few food commodities.’ A responsible section of tho Press regards the Budget as increasing the, burdens of industry, stresses the drain on the capital resources of the .nation. Tho Times says:’ “The Budget is, like the speech, essentially unimaginative and does not reveal a single new idea. It will deepen’the disquieting impression that tho wealthier section of the.community is merely being exploited by the Socialist Government in order to provide the expansion of social service.” TENSENESS IN THE HOUSE. CHANCELLOR’S DIFFICULT TASK. (British Official. Wireless) RUGBY, April 14. There was in the House of Commons to-day more than the ordinary tenseness that precedes the Budget. It was Air Phillip Snowden’s second Budget. The last time liis task was easy, but this time he was’ faced with a deficit. Not only the floor, but also all the galleries were crowded. Something drastic was expected, but the secrets we re "so carefully guarded that 1 the usually well-informed were ignorant. Would Air Snowden show himself to be a bold, imaginative Chancellor, and would he rise above party? These Were the questions uppermost when Air Snowden entered the J House -of Commons at 3.30 p.m. Instantly a wave of sympathy went out to him, as his spinal affliction gives him so much pain that it makes him walk slowly and stiffly. The Chancellor is universally liked. When he entered the House he was walking on two sticks. The Conservatives weffc willing at heart to cheer with the Labour Party. Mr Snowden spoke for an hour and three-quarters, and came through the ordeal wonderfully. In tire lucidity of its exposition, the speech was admirable. , , One great surprise was the reimposition of the sixpence income rax. Across the gloomy landscape of increased taxation, Mr Sriowden cast a few fitful gleams of humour. A shout of jubilation followed the 'announcement of the . retention of the McKenna Duties. “Take care,” Air Snowden retorted grimly, “I may change my mind yet before Parliament is finished.” Air Lloyd George and Air Winston Churchill warmly congratulated Air Snowden when he resumed his seat. Parliament will adjourn on Thursday for Easter, and the Budget debate will be continued after its reassembly.