ENGLAND AWAITS BUDGET EXPECTANTLY.

Star (Christchurch), Issue 18448, 26 April 1928, Page 10

ENGLAND AWAITS BUDGET EXPECTANTLY.

(United Press Assn.—By Electric Telegrapn.—Copyright.) RUGBY, April 23. The Budget statement, in which the Chancellor of the Exchequer will review the nation’s expenditure and revenue during the past year, and will disclose proposals for meeting the estimated expenditure in the financial year which began this month, is awaited with keen interest. Expenditure falls broadly under two headings: First, liabilities for supply services, namely defence and civil departments; and second Consolidated Fund services, including interest on the national debt and floating debt. Departmental estimates have already been published, and it is known that the amount which must be found for supply services will total £407,500,000. The Consolidated Fund service last year absorbed £412,900,000, exceeding the figure of the previous year by nearly £10,000,000 and that of a year earlier by about £23,000,000. It is impossible to estimate the amount this year until it is known wh mt Mr Churchill proposes to do with regard to the sinking fund. A veaT ago he raised the amount of the sinking fund payments from the normal figure of £55.000.000 to £65,000,000, to atone to some extent for a reduced contribution to it in the previous year, in consequence of the general strike. He has been urged on this occasion both to restore it to the old level and to keep it at a higher figure, as a way of raising Government credit. Decision on this matter is one of the secrets to be answered tomorrow. —- British Official Wireless.