"STRATFORD EVENING POST" FRIDAY, JULY 25, 1930. THE BUDGET.

Stratford Evening Post, Issue 4, 25 July 1930, Page 4

"STRATFORD EVENING POST" FRIDAY, JULY 25, 1930. THE BUDGET.

THE Financial Statement presentee! in Hi» House of Kepresentafives last night. by tlie Minister of Finance, Hon. (I. W. Forbes, shows an endeavour to balance the Budget with as little disturbance as possible to economic and industrial conditions. r Fbe fact that it is necessary to find the sum of approximately £‘d,ooo,ooo is no surprise to the people as immediately upon taking 1 office, \lr Forbes made the financial position clear-. The sum of ,-£.1,084, 000 is to be saved by reducingexpenditure, but to get the remainder additional taxation is imperative. In tin’s connection the Government followed the only reasonable course, by endeavouring to plane Ho burdens as equitably as possible. Additional taxation is regrettable, hut according to ibc Budget it is evenly distributed and Here cannot be much room for general complaint on that, score. The money must be found, expenditure is to be cut to the lowest possible minimum, but this will not be enough, and therefore the only way in winch the remaining amount can be obtained is by direct and indirect taxation. The Customs tariff resolutions already passed, will, it is estimated, yield ball the additional revenue required. The alterations in the Customs tariff should not fall heavily upon the public at. large. As: an example an additional penny on a packet of cigarettes will not hurt any one and will scarcely be noticed. The bulk of the additional revenue to come from the Customs will come from the increase in duty on many lines of foreign goods which at the same time will increase the margin of preference, to British goods, and assist in some degree our own industries. There is to be an increase iu tne income tax which will not be a, popular move, but it is a case of “needs must.” The decision to, abandon the special land tax and substitute income ta x is a good one, and should meet with wide approval. Again the taxation, on luxuries is justified. Tew vi.ll object to the proposals iu regard to talkie films and. totalisatpr investments and tile same can be said in regard to the amusement, tax. in regard to the film tax a distinction is to be made hen tween British and foreign films and this is decidedly in the light direction. Generally speaking though the need for extra taxation is regrettable, it cunnot he avoided, and it must be said the Government has done the best possible in an unenviable position. There will be criticism m the House, that is certain, but it will be interesting to know what those who disagree with || ir Government’s proposals would do under the civeumstan,vs The only question that, arises is whether the economies i„ connection with adimmstral.ion are as great ns possible., There seems to lie room tor m - provement. in this regard and although one does not relish H< idea, of Commissions am. ' being set UP H'l <' ; i" 1)0 Hoard of business men to "\ut,;, 111 Hu- I'ivil 5.TV,..,. 1H.,1 .Is moll.n.ls woHl.l S . profitable mvcstmcul F H( ‘ commendations were gneu feet to.