Economy Axe and Taxation Screw

Manawatu Times, Volume LIV, Issue 6629, 17 August 1931, Page 7

Economy Axe and Taxation Screw

MORE BURDENS POR BRITISHERS United Press Association. —By Electric Telegraph.—Copyright. Received Sunday, 9.20 p.m. LONDON, Aug. 16. The Daily Telegraph’s political correspondent expresses the opinion that when Parliament is summoned in September two measures will be introduced, one in the name of a second Budget, providing for new taxation, smd the other an Economy Bill, providing cuts in expenditure. Feeling’ the Strain Received Sunday, 6.45 p.m. LONDON, Aug. 16. Sir Montague Norman, Governor of the Bank of England, is indisposed owing to the recent strain. He ha 3 been ordered a complete rest and lias gone to Canada. Prime Minister’s Appeal to Nation Received Sunday, 9.20 p.m. LONDON, Aug. 15. Mr. Ramsay MacDonald told an interviewer at his home at Lossiemouth that, he felt happier about the situation. He had no doubt the Nation wculd pull through but they must be steady and must not listen tc anything panicky. The Government means action in facing a situation which was not due to financial methods or anything wrong with the country, but the result ot had world trade conditions. Everybody would be asked <to help to tide the country over its difficulties while trade was reviving. The supplementary burdens and cuts in expenditure would be the smallest possible consistent with the balancing of the Budget.

Ultimate Form of Cabinet’s

Proposals TO BALANCE BUDGET. (British Official AVirelcss.) RUGBY, Aug. 14. There is much speculation in and out of the Press as to the ultimate form of the proposals which the Government will make in furtherance of its determination to balance the Budget, stress is laid on the general principle, which the Economy Committee of Cabinet laid down, that the measures should call for an equal sacrifice by all sections of the community. In this connection various schemes for providing now sources of income, such as taxes on wages and salaries and on incomes from fixed interest-bearing securities are rumoured and discussed. It should therefore bo emphasised that prenmturo forecasts of the Government’s intention should be treated with reserve. The special committee of Cabinet at its mootings this week has made what' is necessarily only a preliminary examination, and the ideas which emerged were of a general nature only. These are at present in the hands of the Treasury officials, and it is hoped that the result of their study will enable the broad outlines of certain definito proposals to be laid before the Cabinet Committee on Monday evening. It is anticipated that the Committee’s deliberations on Monday and Tuesday will carry the proposals to a stage at which it will be desirable to bring them before a full meeting of Cabinet on Wednesday. It is also expected that the leaders of the other political parties—whose cooperation it is hoped will be forthcoming to secure rapid passage of necessary measures through the special meeting of Parliament which will probably be summoned next month —will be informed of the scope of proposed legislation towards the end of next week, but the full responsibilities for any measures adopted will, of course, bo borne solely by the Government.