BRITISH FINANCE.

Sun (Christchurch), Volume VI, Issue 1785, 3 November 1919, Page 7

BRITISH FINANCE.

RESTORED CONFIDENCE.

By Oabl*, — Freu Astoeialion. —Copyripftt. (A. & N.Z.) LONDON, Oct. 30. Mr Chamberlain's speech had a tonic effect in the House of Commons, and restored confidence in the financial stability of the country, -which the publication of the revised Estimates rudely disturbed. The House was delighted at the prospect of no new taxation in 1920, which will be welcome news to the constituencies. Mr Chamberlain's speech is regarded as a first-rate oratorical effort, frank, lucid, and compact, but the critics of the Government are puzzled to account for the different tone of the speech as compared with the financial statement made in August.

LLOYD GEORGE'S ORATORY.

Australian and N.Z. Cable Association

(Rec. Nov. 3, 10.45) LONDON, Oct. 31. Even the anti-Ministerial newspapers admit that Mr Lloyd George made a brilliant oratorical effort on the second day of the Financial Debate. He completely discomfited his critics, and was largely responsible for the overwhelming majority. Mr Hogge and other "wee frees" complained that the Prime Minister's rhetoric obscured the Government's view of the capital levy. One of the most interesting speeches was Lord Robert Cecil's. He said that many were doubtful regarding the wisdom of the levy, not because they grudged contributing or considered it unprincipled confiscation, but they feared it would produce more harm than good. He agreed that it would be madness not to inquire into the subject. He criticised. Mr Chamberlain's forecast of a normal year's expenditure, and questioned whether the expenses were included of administering the mandate% and whether allowance was made for domestic expenditure such as housing and additional cost of education.

MR ASQUITH CRITICAL.

Australian and N.Z. Cable Association. (Rec. Nov. 3, 12.5) LONDON, Oct. 31. • Mr Asquith, speaking at Aberystwy, denounced the Government's financial policy. He said Mr Chamberlain's miscalculation was the grossest in the country's history, yet the Prime Minister cracked jokes over the financial position while the House of Commons dissolved in laughter. Hypothetical budgets were of no use. Mr Asquith declared that the only solution was an additional tax either on incomes or wealth. He would welcome an inquiry into the taxation on war fortunes.