Comment Is Favourable

Northern Advocate, 27 April 1944, Page 5

Comment Is Favourable

LONDON. April 2G

Morning papers agree that while the Budget administered no shocks, it gave a preview of a long period of post-war austerity, but “The Times' says: “The courage and constructive spirit shown throughout tire whole notable statement. justify confidence in the future.” The “Daily Mail” says: “The Budget. with no taxation increases must be unique in modern times, but this Budget was the inevitable introduction of a series of retrenchment Budgets which must come when the war is over.”

The “Daily Express" calls the Budget “A Great Success” because it lifts the burden on small traders by raising the amount he can earn before handing over all the profits to excess profits tax.

“Previously the limit was £ 1500. the paper says. “Now at one bound the limit has been raised to £2500." The financial correspondent of the “Daily Telegraph” says that first reactions were unanimously favourable in the City where the raising of the cost of living index is regarded as confirming an expectation of a moderate rise in prices consequent on a rise in equity share quotations. The president of the National Union of Manufacturers (Sir Patrick Hannon) said 'that Sir John Anderson's c-utlook on the future of industry in relation to public finance taxation was hopeful, inspiring and helpful.