MAY REACH £400,000,000
UNITED STATES DEFICIT NEW TAXES CONTEMPLATED WASHINGTON, Oct, 23. Simultaneously with the disclosure that the Progressive Conservative leaders in the House of Representatives are planning to seek an upward revision of tax schedules next session, whether President Hoover approves or not, it is revealed that the administration is considering, with the approval of the Treasury Department, the institution of a tax on sales of luxuries and semi.lnxuries, such as automobiles, radios, tobaccos, matches, etc., in an effort partially to mitigate the tremendous excess of expenditure over revenues. The deficit is now over £120,000,000. It is estimated in some circles that it will reach £400,000,000 by tho end of the fiscal year.
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Bibliographic details
Poverty Bay Herald, Volume LV, Issue 17607, 24 October 1931, Page 5
Word Count
114MAY REACH £400,000,000 Poverty Bay Herald, Volume LV, Issue 17607, 24 October 1931, Page 5
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