DEFICIT IN BRITISH BUDGET IS PREDICTED.
INCOME TAX AND STAMP DUTIES SHOW DECLINE. (United Press Assn.—By Electric Telegraph—Copyright.) LONDON, February 1. “I regret that I am unable to speak sanguinely regarding the revenue side of the account,” said Mr Philip Snowden, Chancellor of the Exchequer, at Leeds. “Unless income tax receipts improve considerably before the end of March, we shall probably find that the Budget estimates are not realised. Stamp duties are also down. The only possibility of a reduction of expenditure is in armaments and war debts. If trade improves, accompanied by cheaper money, for which we are hoping before long, we may make an impression on the huge National Debt, enabling a reduction in taxation, but national finance must pay its way. We shan’t commit raids and live on capital, or on outside capital, to meet current and recurrent expenditure.”
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Star (Christchurch), Issue 18985, 3 February 1930, Page 10
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142DEFICIT IN BRITISH BUDGET IS PREDICTED. Star (Christchurch), Issue 18985, 3 February 1930, Page 10
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