BRITISH MINISTERS DISCUSS THE BUDGET.
(United Press Assn.—By Electric Telegraph—Copyright.) LONDON. March 29. Mr Ramsay MacDonald, the Prime Minister, and several other members of the Cabinet visited the Chancellor of the Exchequer, Mr Philip Snowden, at his residence at Farnham, where he is recovering from an attack of cystitis, and discussed the provisions of the Budget with him. The “Daily Herald” predicts that the deficit will amount to £25,000,000, but points out that the National debt was actually reduced during the vear by £30,000,000. Moreover £10,000,000 of the deficit is due to excess payments to the Sinking Fund, and a similar sum has been saved on interest charges as a result of cheaper borrowing. Such savings will go towards the reduction of debt. It is not considered likely that additional income tax will be levied.
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Star (Christchurch), Volume XLIV, Issue 77, 31 March 1931, Page 1
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135BRITISH MINISTERS DISCUSS THE BUDGET. Star (Christchurch), Volume XLIV, Issue 77, 31 March 1931, Page 1
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