IS PEAK REACHED?

Wanganui Chronicle, Volume 83, Issue 97, 27 April 1939, Page 7

IS PEAK REACHED?

MONEY FOR ARMS MR. ATTLEE OPENS DEBATE Received April 26. 5.5 p.m. LONDON. April 25. I The Leader of the Opposition, Mr. IC. R. Attlee, asked whether the peak iof expenditure on armaments had ; been reached. He said the Chan- | cellor had shirked the problem by borrowing, which would lead to inflation, and the mass of the people would have to pay the price. Accumulated wealth would have to be taxed sooner or later. Mr. Attlee said he was glad to see a certain concentration on luxuries, but the Government should have gone further. not necessarily from the viewpoint of soaking the rich, but in concentrating on necessities, and not on luxuries. ’ The leader of the opposition Lib'erals, Sir Achibald Sinclair, stressed the luxury demand upon skilled 'labour and suggested that skilled workers engaged in the motor industry would be better employed in the re-armament industry. The Budget showed little evidence of mobilisation !of the country's economic and financial resources. [ Mr. R. J. G. Boothby (Conservative) ! considered it was necessary to devise la technique for extending export [trade and avoiding a serious adverse ! balance. The national income must [be increased by increased produc- ! lion. ; Mr. A. P. Herbert (Independent) re- | gretted that betting was not taxed, 'ana described this as national im- • becility. He referred to the example of Australia, and said: “1 was there in 11926 when a tax of 10 per cent, on every bet was imposed in New South Wales. A sum of £20.000,000 a year could be raised here, which is nearly the sum the Chancellor wanted.”