FRENCH PEOPLE’S CHOICE

Taranaki Daily News, 19 January 1933, Page 5

FRENCH PEOPLE’S CHOICE

BALANCING OF THE BUDGET DRASTIC ECONOMY OFFERED CHERON’S BUDGET SPEECH BOLD EFFORT ADVOCATED By Telegraph—Press Ann. —Copyright, Rec. 7 p.m. Paris, Jan. 18. The Minister of Finance (M. Cheron) introducing the Financial Bill, declared that France’s choice was between a bold effort which would save her finances and a feeble policy which would aggravate the situation and menace the national currency. Though the peak of the crisis seemed to have passed, the fiscal and administrative, system needed ling. The Budget, must be balanced pending the reforms, after which a consolidation loan must convert France’s floating debt into a long-term debt. M. Cheron accepted the estimate of the deficit as £84,328,000 and cuts in expenditure of £42,608,000 and that £43,624,000 should be raised in additional. taxation; also a £16,336,000 reduction be made in pensions, though the annual lottery would compensate ex-servicemen’s cuts. The Government’s chances of winning will depend on how much ballast M. Cheron is prepared to throw out.