More Taxes?
(British Official Wireless.)
BRITAIN'S EXPENDITURE Over £40,000,000 Extra To Be Found MR SNOWDEN'S TASK.
RUGBY, March. 12. With th© issue to-day of the Axmy Estimates for tlie year 1930-1931, it is now known what sum the Chancellor of the Exchequer will have to provide to meet suppiy services for the year. The estimates are as follow: — £ £ Estimate Dec. or Inc. Army 40,500,000 45,000 Navy ... ... 51,739,000 4,126,000 Air Force ... 17,850,000 *1,650,000 Civil Votes J 295,685,000 *56,800,000 Cust, Exci'se, Inland Rev- 12,134,6 66 Total ... £417,909,000 £55,000,000 *Increase. The exact amount of debt and consolidated fund charges will not be disclosed until Budget day. In the last Budget the provision made for this expenditure, including sinking fund, amounted to £379,000,000. _ In the coming financial year there will be a saving of £15,000,000 in consolidated fund charges by payments hitherto made to the local taxation aecount being transferred to the Civil Estimates. If other items in tlie consolidated fund charges remain at last year's figures and the provision for the sinking fund is not reduced, expenditure under these heads would 'be £364, 000, ^ 000, which would bring the total expenditure in Mr Snowden' s foTthcpming Budget to £782,000,000, qpiupared wfth a total of £740,000,000 ra the last Budget. This shows an inerease of £42,000,000. Some £15,000,000 of the mcreased expenditure, in addition to £15,000,000 transferred to the Civil Estimates, is attributabli to the relief of local taxation under the legislation of the late Government. This ean he met qui ox the relief siispense aceount, which at present has a balance of ahout £20,000,000. A total of £25,000,000 of the mcreased expenditure will have to be- met out of ordinary sources of revenue. Whether the -Cliancellor of the Exchequer, when he makes his Budget statement on April 14, will find it necessary to impose new taxation is a subject of serious discussion m the press. *
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Daily Telegraph (Napier), Volume 59, Issue 36, 14 March 1930, Page 7
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312More Taxes? Daily Telegraph (Napier), Volume 59, Issue 36, 14 March 1930, Page 7
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