AITER FOUR YEARS OF WAR.
BRITAIN'S FINANCES CAN HELP ALLIES. LONDON, July 16. Great Britain, after four years of war, is so financially self-supporting* that she has advanced to European allies £500,---000,000, the amount America advanced to her during the last financial year. This condition has been supported by a system of taxation more drastic than any country has ever sustained. Her itotal expenditure for the next financial year, that is, from March 31, . 1918, to March 31, 1919, is estimated at £2,972,985,000. The revenue, to be raised by taxation for the year is estimated at £844,250,000, leaving a balance to be covered by tho borrowing of £2,650,705,---OCO. When Lloyd George first asked a budgut of £200,000,000 in peace times to ' carry out his schemes of social reform, > the dovo cotes of wealth iluttered with ' apprehensions of utter impoverishment. This yoar the excess profit duty rais- * ed by the levy of 80 per cent, on' in- ' creased profits since the war Avill pro- > duce of itself £300,000,000, and the } incomo tax _ wilb produce £292,250,000.
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Bibliographic details
Poverty Bay Herald, Volume XLV, Issue 14688, 21 August 1918, Page 7
Word Count
174AITER FOUR YEARS OF WAR. Poverty Bay Herald, Volume XLV, Issue 14688, 21 August 1918, Page 7
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