WARNING OF HUGS DEFICIT
MR. SNOWDEN’S PREDICTION
GREATER INDIRECT TAXATION
‘MAY r OUTRAGE PRINCIPLES’
NO CHANGE IN INCOME TAX
By Telegraph—Press Assn.—Copyright. Re<J. 7 p.m. London, Feb. 17. Several newspaper lobbyists assert that Mr. Philip Snowden in the course of a 75-minute address warned a Labour Party meeting that there might be a deficit in the forthcoming Budget of from £40.000,000 to £50,000,000. He said he was determined to prevent conditions arising which would land Britain in the position of other countries which had 5,000,000 or more unemployed.
It is understood Mr. Snowden admitted it was not proposed to increase direct taxation. Members of the Ministry are reported to have forecast there would be no change in either income tax or super-tax, leaving the inference that there will be substantial increases in indirect taxation. In this connection they recall Mr. Snowden’s admission at the Guildhall on October 16 that he might have to outrage his strict financial principles.
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Bibliographic details
Taranaki Daily News, 19 February 1931, Page 5
Word Count
158WARNING OF HUGS DEFICIT Taranaki Daily News, 19 February 1931, Page 5
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