The Pahiatua Herald PUBLISHED EVERY EVENING WEDNESDAY, APRIL, 6, 1927. A HUGE DEFICIT.

Pahiatua Herald, Volume XXXV, Issue 10512, 6 April 1927, Page 4

The Pahiatua Herald PUBLISHED EVERY EVENING WEDNESDAY, APRIL, 6, 1927. A HUGE DEFICIT.

The huge deficit in the British Budget which has caused sa much consternation at Home, adds, yet another .blunder, (and 1 1 .ere have been more than one both in military and financial matters) committed by Mr Winston Churchill. The deficit will cause great uneasiness in several industries and anxiety to ratepayers, who after bearing the heavy burden for so long are desirous of some relief, but the prospect is a poor one. Moreover, as the Wanganui Herald remarks, the deficit may effect sterling exchange on New York, which was not easily brought to the satisfactory relationship which has been maintained during the last two years. The need in Britain, as in New Zealand, is for thorough economy in Government ex. penditure, a definite attempt to live within each year’s income and to reduce the burden upon the taxpayers. Air Churchill has failed, and no doubt there will be a strong demand, not only from Opposition quarters, hut within the Government party, for a change of Chancellor. How the deficit will affect taxation lias yet to he revealed, but as a message stated last week the Stock Exchange has already recorded a disturbance among tobacco companies. No doubt Mr Churchill will plead that the coal strike has been the cause of the deficit, but he will probably have great difficulty in convincing bis critics that anything hut Vis own incapacity is the real cause. H is continuance at the Exchequer is referred to by the Daily Chronicle as a luxury. Mr Churchill’s record in various offices shows that he has been a very expensive man

to Britain in more ways than one, any many people would be greatly relieved if Mr Baldwin announced a Cabinet that didi not contain Mr Churchill’s name.