CABLEGRAMS.

Western Star, 24 April 1936, Page 3

CABLEGRAMS.

INCREASE IN TAXATION. COST OF SAFETY. BRITISH BUDGET PROPOSALS. SURPLUS OF £3,000,000. To meet the heavy cost of its programme of reaimament, the British Government has found it necessary to increase the rate of income tax hy 3d in th e £ and the duty on tea by 2d a pound, besides taking £5,500,000 from the Road Fund. This announcement was made by the Chancellor of the Exchequer (Mr Neville Chamberlain), when in his review of the Budgetary position he revealed a surplus of nearly £3,000,000. The House of Commons was stunned into silence at the grim tidings. LONDON, April 21. Th e crowds assembled at Downing Street for a glimpse of Ministers, on their way to the House of Commons were, smaller than usual. The House, however, was so crowded that members were unable to secure seats on the floor and wero obliged to go to the side galleries. The Chancellor of the Exchequer rose at 3.33 p.m. and declared that the most remarkable fact of th e past year was the surplus of nearly £3,000,000, wonderfully demonstrating the buoyancy of the revenue. Mr Chamberlain proceeded to give details of the revenue, drawing the conclusion that there was a general increase in the country’s wealth and an expansion of trade activity. The national debt had been reduced by £4,500,000, and t.h e floating debt by £51,250,000. *The exchange equalization account continued to show a profit. Mr Chamberlain, said that he would not be- justified in making an increase of the,provision, in such abnormal times, for, the redemption, of debt, which would remain at £224,000,000.