BRITAIN’S FINANCES.
| REVENUE GOODS. | ' EXPENDITURE TOO HIGH. (Reuter.) Received August 18 1.10 a. m. LONDON. August 17. In the Commons, Sir R. S Horne {(Chancellor of the Exchequer) stated Ihat in the first four and a 'half months of the financial year, ordinary revenue had been remarkably steady. The only Serious deficit was involved in sales and disposal of bonds and excess profits fluty, but these deficiencies would not wipe out entirely the favourable figures. A sum of £78,000,000 had been earmarked for redemption of debt. A very substantial amount would be obtained from German reparations to help the revenue. Therefore he did not view the year’s position gloomily, but felt real apprehension as regarded 1922. Excess profits, sales of war material and Jncome tax receipts would shrink considerably. To balance accounts, therefore, expenditure must be reduced by £130,000,000 compared with 1921.
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Bibliographic details
Wanganui Chronicle, Volume LXXVI, Issue 18259, 18 August 1921, Page 5
Word Count
142BRITAIN’S FINANCES. Wanganui Chronicle, Volume LXXVI, Issue 18259, 18 August 1921, Page 5
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