POSITION CHANGED FOR WORSE SAYS PREMIER

Stratford Evening Post, Volume I, Issue 84, 18 March 1931, Page 6

POSITION CHANGED FOR WORSE SAYS PREMIER

(VUI.T.IXCITOX, .M.-m-h 17. ' “To sum up the position I regret to say that Hie Budge!-vy | position lias changed for the worse since my previous slal uacnt hosed on the. nine months figures, duo to the fact that the tailing; oft' in the (wo items principally concerned (customs, and railway interest) lias been sharply accentuated during January and February,” said the Prime Minister, Hon. <l. W. Forbes, in the House of Representatives last night, when moving- the second reading of the Finance Bill. “As a result,” he continued, “notwithstanding all the efforts made to increase revenue and curtail expenditure, it, seems likely now that the financial year will close with a deficit of at least £1,21)0,000. In addition to (hat, added Mr Forbes, we have the fact that expenditure regarding unemployment is likely considerably to exceed the provision made Cor it. Taking the figures 1 have given as a basis for our calculations for the coming year, our estimated shortage of £4,500.000 seems likely to he exceeded. I don’t wish to paint a black picture, but 1 think it my duty to place all flic facts before the country. The situation is one of the gravest this country has faced and calls for every endeavour and co-operation to enable us to get through with a minimum of hardship to our people. It is the sincere desire of the Government that whatever we do creates as lit lie hardship as possible.” Mr Forbes mcnlionyd also the additional expenditures incurred as a result of the earthquake.