BRITISH BUDGET
A DEFICIT OF £75,000.000 BIG ARMS EXPENDITURE LARGE SUM BY TAXATION (United Press Assn.—Elec. TeL Copyright) (Received December 31, 12.15 p.m.) LONDON, December 30 It is estimated that the British Budget shows a deficit now of £75,000,000 compared with last year. IT the last quarter of 1938-9 does not exceed last year's and tlx* revenue increases in accordance, it is anticipated that for the whole year the Budget will balance, but with the addition of the armaments expenditure it is now believed that Sir John Simon will need £200,000,000 new revenue. If half of it is borrowed, thereby doubling the original borrowing programme for 1939-40, there will remain £100,000,000 to be obtained by taxation.
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Bibliographic details
Waikato Times, Volume 123, Issue 20693, 31 December 1938, Page 7
Word Count
116BRITISH BUDGET Waikato Times, Volume 123, Issue 20693, 31 December 1938, Page 7
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