THE GERMAN BUDGET

Otago Daily Times, Issue 21361, 15 June 1931, Page 7

THE GERMAN BUDGET

NEW FINANCIAL DECREE DEMAND FOR REVISION (United Press Association.) ,% (By - Electric Telegraph—Copyright.) BERLIN,’June IS. (Received June 14, at 7 p.rn.) A political crisis threatened as a result of the People’s Party, after a long and stormy meeting, demanding the early convocation of the Reichstag to revise, and even annul, the emergency degree. The Nationalists are equally insistent on revision and will support the People’s Party. A meeting of the Reichstag House Committee has been fixed for June 16. and the demand for revision is acceded to the Government will certainly resign. It is believed that the Socialists hold the key to' the situation. They, too, are demanding convocation if Dr Bruening refuses to alter the provisions of the decree, which are regarded as oppressive to the workers. The People’s Party is apparently aiming at re-organisation of the Cabinet and putting a man who is more, favourable to industrialists in the place of Dr Curtius, whose contention is that convocation would lead Ito increased economic tension. Vi Dr Bruening has hurried to consult President Hihdenburg, who is spending a holiday at Neudick.

A previous.mesage read as follows: President Hindenburg has signed the new financial decree which is expected to yield £90,000,000 and turn a deficit of £62,000,000 >into a surplus of £28,000,000. Practically every German is affected by the decree. The pensions of 660,000 war invalids will be reduced 10 per cent., and an eyen greater number of widows and orphans will be similarly reduced. As many as 200,000 persohs will be added to the present half-million workless people who receive no benefit of any description from the Government. All taxpayers will be subject to the new income tax.

CRISIS MAY BE AVOIDED. _____ , t'V'v BERLIN, June 14. / (Received. June 15, at 1 a.m.) If is expected that the German crisis will be satisfactorily solved. Dihßruen,fng adheres to his decision not to allow the Reichstag to interfere at a critical juncture in world affairs afad he also refuses to reconstruct the Cabinet. ' Nevertheless he is willing to discuss the 'possibility of removing some of the hardships of the emergency decree as long as the financial result is not impaired. He is conferring with the party leaders on the subject.