Papurau Newydd Cymru

Chwiliwch 15 miliwn o erthyglau papurau newydd Cymru

Cuddio Rhestr Erthyglau

46 erthygl ar y dudalen hon

IMPORTANT DEBATE ON THE COUNTRY'S…

Rhestrau Manwl, Canlyniadau a Chanllawiau
Dyfynnu
Rhannu

IMPORTANT DEBATE ON THE COUNTRY'S FINANCIAL POSITION. TAXES COMING IN WELL. The problem of "Waste," or better still the need for effectin-I new economic methods throughout the country is now being tackled by the Government. According1 to the Chancellor of the Ex- chequer (Mr. Austen Chamberlain), the financial situation is grave, but there is no reason for panic. He no 10nger thought, as he did last August, that there must be new taxation. The bread subsidy is to end soon, and the coal subsidy also if production is maintained. Britain is leading the way in disarmament, and the Army will be reduced by half a million men by November 15. The Navy reductiong are five battleships of Home Fleet to reserve, one battie cruiser sold and one to reserve. The Chancellor thought a Select Committee of the House should consider the question of a tax en war fortunes. Mr. Churchill said £48,000.000 from Ger- many would be received next year for the jriny of Occupation. The Dominions owed the War Oflice = £ 50,000,000 for maintenance of troops. More than half of the decrease in receipts were good debt- The British Army on the Continent would soon total only 30,000 men- By the end of the financial vear the Army would number 300.000 white troops—ail volunteers. The general deficit 13 given at £ 473,645,000- In discussing the general position, Mr. Chamberlain said the taxed revenue is coming in extremely well. Every item of in- land revenue except the excess profits tax equals or exceeds the Budget estimate. Thb excess profits duty is unlikelv to yield in the current year aa much as I had antici- pated by a Bum of twenty millions. Income- tax is the only head of inland revenue which is' not shown as likely to produce excess over the Budget statement. Even more satisfactory were the Customs and Excise, which were expected to yield thirty-eight and a half millions more, and of that fifteen and a half millions were due to increased barrelage of beer. Mr. Chamber- lain gave these figitres:- Tea, 14,000,000 more. I Tobacco, £ .14,000.000 more. Stamp duties, = £ 4,000,000 more. I The latter was now estimated at I £ 16,000,000. CURRENT EXPENDITURE. I Turning to the expenditure of the current I year, Mr. Chamberlain said the actual in- crease of expenditure over the Budget Esti- mate is 133 millions. There was no single feature of the world situation which placed heavier burdens on us than tie fact that Tnrkey had not signed the Treaty and no settlement had been made in the East. That wad a matter for which the Government was in no way responsible. The Chancellor said he had told the Hou&e again and again that the Treasury was not staffed for the work it had to do. It was under-staffed and ill-organised. "We have reorganised, it," he added, "under a single permanent head—Sir Warren Fisher." Under him were three Controllers. A second reform in organisation was the strengthening the hands of the financial officers within their own departments. The third organisation was the Finance Com- mittee of the Cabinet, consisting of the Prime Minister as chairman, the Lord Privy Seal, Lord Milner, the President of the Board of Trade, and the Chancellor of the Exchequer. On the question of the reduction of staffs, the demobilisation of the administrative staff in the Army and Navy must follow and cannot precede demobilisation of the fight- ing forces. "At the Treasury I will not be responsible for a reduction of trained staff because I know I am losing revenue for want of a trained staff. The reductions last month are 8,000 men." WAR PROFITS. I Dealing with the question of war profite, the Chancellor said that another point was the proposal for a special levy on wealth accumulated out of the war. Before any decision was made whether any Bill on the subject should be introduced the report of the Inland Revenue should be examined by a Select Committee of the House. In conclusion, Mr. Chamberlain said there must be an increase of production. That was vitally necessary to national prosperity. No adtlitional taxation would be required to balance future Budgets, no fresh borrow- ing would be required on revenue account after this year. On the contrary, next year a substantial surplus should be available for the reduction of debt. "We invite the House to explo-e with us in anticipation of any decision by us the subject of a levy on war profit. Thers is every occasion for caution, there is no ex-I cuse for panic. Our position is sound. CRITICISMS. Sir D. Maclean, who followed, compared the Chancellor's review with his pessimistic speech of August, and asked what had occurred to justify this transformation. We were spending £ 1,500,000 a day more than our revenue, and to-day had a National Debt of 8,'000 millions. He suggested that between now and I Christmas the Government should submit revised estimates for the Army, Navy, and Civil Scrvice. Sir A. Steel Maitland (Unionist) said thai a Select Committee on the proposal for a tas on war fortunes was all very well, but whal was nseedod was a serious study of the real cause <&f high prices. Mr. Adamson (Labour Chairman) com. plained of the increased expenditure on tht Army., and declared that experience of th( Government's dealing with the financial position did not inspire confidence- WAR'S MACHINE. Im reviewing his side of the situation, Mr. Churchill said that very few of the factors in 'his original forecast of Army expenditure had been falsified in the light of events, but certain new factors had happened which on paper made it seem as if there was a con- siderable change. "We are spending X500,000,000 this year," added Mr. Churchill, "not on maintaining a pedce Army, but on disbanding the great machine of war. "By March 31 the total number of British -white troops will be only 300,000, instead of the 825,000 which were estimated for at the beginning of the year." "I do not know whether the House would like me to say a word about Russia," said Mr. Churchill. amid laughter, "but there will be a debate on the Vote on Account of the Army on which perhaps the matter will be more fully debated. I am going to lay the Estimates before the session is over. "The withdrawal from Russia has been effected without loss or disaster, and with- out dishonour to our reputation. We have notified General Denikin that we shall ex- pect his armies to become self-supporting after the close of thia financial year. The Government have approved of a final con- tribution to General Denikin of surplus stores of approximately £ 15,000,000. The British operations in Russia were no cause <0:£ the present excess in expenditure.

GOVERNMENT MAJORITY.

NEW MASTER OF THE ROLLS.I

[No title]

WARNING THE STAGE-STRUCK.…

[No title]

[SELBY TRAIN SMASH. I-

I "DEAD" GIRL BREATHES.I

THE QUEENS GIFT. I

ISOLDIER. "MARY ANNS."I

l CROYDON ELECTION. I

II-THE LUCKY 13. I

IA NEW LIGHT.I

HOME KNIFE REPAIRING. I

[No title]

AMERICAN LABOURI TROUBLES.

I K.C. AND BARONET IN MOTOR…

I NOVEL TRADE PROPOSAL.I

I ASKING FOR TROUBLE. I

CATTLE DISEASE PERIL. I

THE TRAFFIC PROBLEM..I

LUNCHEON HOUR FIRE. j

FAMOUS POETESS DEAD.

. FIREPROOF BUILDINGS. I

PRIZE BONDS.

LORD ROTHSCHILD'S SURPRISE.…

HOW WE LOSE TRADE.I

OUR LONDON LETTER.

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I OUR RUSSIAN ARMY.

(-"'LAUGHTER IN COURT."I

DASH FOR LIBERTY.I

I LADY ASTOR.I

CRUISER ON FIRE.

RESTAURANT SCENE. I

.GENERAL DIAZ. I

NEW NAVAL PEER.

NEW PEERAGE WHO'S WHO.

AN AEOLIAN HALL RECITAL.

[No title]

SHAH IN ENGLAND, I

A JUVENILE PRODIGY. I

RAID OF MASKED MEN. I

GOOD COAL OUTPUT. I

FRIED FISH.. I

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