REVENUE OF BRITAIN.
LARGE DEFICIT SHCTWNf. INCREASE IN EXPENDITURE. Australian and >". Z. Cable Association. (Reed. 7.5 p.m.) LONDON. Oct. 1. The British revenue returns for the first half of the present financial year ending September 30 show a deficit of £36,000,000. Expenditure increased by £19,500.000. The largest decrease in revenue was in income tax, £9,250.000. The Daily Telegraph says the returns cover the lean period of the financial year., but when due allowance is made for that the position is not cheering. Doubts must arise whether Mr. Winston Churchill's Budget will eventually balance.
A year ago the revenue was £12.000,000 less than the expenditure.
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New Zealand Herald, Volume LXII, Issue 19138, 2 October 1925, Page 11
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104REVENUE OF BRITAIN. New Zealand Herald, Volume LXII, Issue 19138, 2 October 1925, Page 11
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