British Budget

Taranaki Daily News, Volume LVI, Issue 288, 8 May 1914, Page 5

British Budget

" COUNTRY CAN WELL AFFORD IT.' THE TREASURY SBCRK'ARY'fi DJCTOM. By Cable—Press Association—Copyright Received 7, 11.60 poo. London, May (. Ik the House of Commons, Mr Chamberlain welcomed tin.' ;.n'auis in ;iid of local taxation, lie saiil tlic Budget marked the .abandonment of the Liberal doctrine of retrenchment and economy. The Treasury no longer checked expenditure, but was most extravagant in all departments. Taxes had been raised to a war figure at a time of unexampled prosperity. What would be done in lea* years?

Mr E. S. Montague, Secretary to the Treasury, Baid the growth of national wealth was greater than the growth of tax&tiom, and the country ceild well afford the new Budget.

I ATTACKED BY UNIONISTS. liOßdon, May 6. Mr. Chamberlain criticised ihe Budget for the abandonment of the old Liberal policy of retrenchment. He described Mr. Lloyd George afi itbg umcheoked initiator of social reforms.

The Hon. E. S. Montague replied that tiie unequal distribution 0I wealth yras indefensible, unless it could be Bhown that its possessors mode an Adequate contribution to the State requirements. The present Administration's reduction of the debt had saved three millions a ymr in interest. ' The Irish Parliament receives aa extra half a million a year under the Budget, instead of grants to local authorities. The autumn session will probably deal with legislation arising out of the Budget. Many Ministerialists have made strong representations against an autumn session, and declared that they will not attend the House of Commons.