THE FRENCH FINANCES.
PREMIER'S PLUCKY STROKE. M. DOUMER'S PROPOSALS. A. and NJZ. PARIS. Dec. 30. The plucky threat made by the Premier, M.. Briand, to form a Right Wing Ministry if the Radical Socialists in his Cabinet continued ins opposition to the proposals of the Minister for Finance. M. Doumer, has been temporarily successful.
The dissentient Ministers have withdrawn their abjections and M. Doumer has offered to withdraw the proposal for a double turnover tax. He will substitute instead an extraordinary temporary tax upon gross takings bringing in 3.800,000,000 francs. This is much the same as the turnover tax, but verbal changes have enabled the dissentients to save their faces.
It is estimated that M. Doumer's plans will bring in increased taxation totalling 8,800,000,000 francs. M. Briand's respite will last at least until January 12, when tho Parliamentary discussion on the Budget will be opened.
The settlement of tho Government's financial proposals resulted in a notable recovery of the French franc on tie sterling exchange in London during the morning to 127g. At closing time, however, the rate had relapsed to 129.32.
The latest quotation for the franc, received last evening, is 129.25 to the pound sterling.
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Bibliographic details
New Zealand Herald, Volume LXIII, Issue 19215, 2 January 1926, Page 9
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197THE FRENCH FINANCES. New Zealand Herald, Volume LXIII, Issue 19215, 2 January 1926, Page 9
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