BRITAIN’S BUDGET.
CHANCELLOR REPLIES TO MR. ASQUITH. LONDON, July 14. On the third reading of the Finance Bill, Mr Asquith said the Budget was founded on conjectures and hope. Although since the armistice war assets had been realised, none had gone towards reducing the debt, but instead had been treated as revenue. Colonel Wedgwood said the Labour Party opposed the Budget on the ground that it benefited the rich at the poor’s expense. Sir Robert Horne, in defending the Budget, said that Mr Asquith’s gloomy prognostications had so far been entirely falsified. Our credit and the value of our currency stood higher than at any time since 1914. He reminded the House that the Government had been obliged to meet the war charges by excess war assets. The request from America to consider the funding of our debt to her was one which would be completely met. Our floating debt had been reduced by 409 millions since July, 1921, and of this seventy-one millions had been paid since March last.
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Wanganui Chronicle, Volume LXXVI, Issue 18534, 17 July 1922, Page 5
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170BRITAIN’S BUDGET. Wanganui Chronicle, Volume LXXVI, Issue 18534, 17 July 1922, Page 5
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