BRITISH SURPLUS
LONDON PRESS COMMENT VARIOUS VIEWS EXPRESSED (Received April 2, t0.35 p.m.) LONDON, April 2 The Daily Telegraph hails the surplus of the Chancellor of the Exchequer, Mr. Neville Chamberlain, as a triumph for sound finance. Instead of the realised surplus going to a reduction of debt, as is customary, it may be used to lessen the debt of the unemployment fund. The Times says there are features in the Exchequer figures which preclude any rollicking optimism about the future. One-fourth of the surplus is due to the duty on the Ellerman estate, which is .a non-recurrent windfall. It would be unwise to assume that the prospective surplus for 1934-35 will be much greater than that oi the year just ended. The Morning Post estimates that the surplus is about £50,000,000. The Daily Herald says Mr. Chamberlain is being 'congratulated on his big surplus, but really this is a sign of bad budgeting. Jf Mr. Chamberlain a year ago had restored every cut ho would still have had a surplus and could have relieved incalculable suffering and given a fillip to trade. The Sunday Express describes the revenue returns as a "magnificent Easter egg" for the taxpayers. '1 he City thinks,that the chances of a reduction in income tax are considerable.
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Bibliographic details
New Zealand Herald, Volume LXXI, Issue 21765, 3 April 1934, Page 9
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212BRITISH SURPLUS New Zealand Herald, Volume LXXI, Issue 21765, 3 April 1934, Page 9
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