spy Circles Are Not Enthusiastie; But Proposals Recognized as Inevitable 'ALLOWING a short debate, London, Apr. 21. during which Mr. C. R. Aitlee, foader of the Labour Opposition, and it Archibald Sinclair, behalf of the Liberals, voiced their cut isms, the House of mons to-day approved the resolutions of Mr. Neville Chamviain's so-called "Rearmament Budget" and adjourned. "'Mr. Attlee described the Budget as one which would ultimately] ad o war, Labour, he said, could not accept the position. They ore told by the Chancellor of the Exchequer that, as trade was pw on the up-grade, everything was. going well. But this had ren thrown away on armaments. The Labour leader criticized increased tea duty, and declared that the Budget would cause enthusiasm anywhere. It did not mark the Government's sucs, but its complete failure, to deal with foreign affairs The financial outlook, said Sir Archibald Sinclair, was graver since 1931 and the War.
Three years ago, the Chancellor seribed the Budget as one of great expectations, but this was budget of shattered hopes.
Mr. James Maxton, Labour member for the Brldgeton division Glasgow, criticized the tea duty#and regretted that no provision been made for social services, although there had been pro-sion for armaments, The Budget proposals were also not National Debt Reduced inwsiastieallyzeceived in Lobby Speaking of the national debt, Mr. cle, although the integrity of the Chamberlain said that, taking all sncial_ principles on which the factors into account, it" showed a get is based was freely reduction during the year of £4,500,- 000, The floating debt was reduced The Budget is generally yeeeived by 51,250,000 while the Exchange ithe press as unexpectedly elabor-'Equalization Fund continued to chow and severe, but is accepted with profit, mr tan resignation and approval of 'Turning to the new year, the orthodox decision to meet the Chancellor said that the fixed' debt jolt of the increase in expenditure charge had remained during the last ym) revenue, thros years at £224,000,000—during which period he had been able, out remarkable Buoyaney in Revenue of the savings within that charge, to solemn House listened to Mr. make available for debt reduction amberlain when he: introduced his £32,500.000—and much as he would Widget. yesterday. like'to increase the provision for the in a speech lasting 87 minutes he redemption of debt, he did not feel viewed the results of the last finan Justified in doing so, I year, Which showed, he claimes The Estimates for the supply ser-remarkable buoyancy in revenue. vices, already published, provided He estimated the total expenditure £378,746,000 for the Civil depart-the present year, including £25, ments and £158,251,000 for the de-1000 for supplementary estimate: fence services—a total of £536,- '£797;897,000, and he announced proposals "for obtaining new Mr, Chamberlain announced that he had decided to set aside a margin for nditure, venue {0 meet this Increased supplementary estimates for the de-These included: fence services of £20,000,000 and for ising the standard rate of income: grants to publica assistance of]
by 24, In the pounds increase of the tea duly by 24, and Transfer from the Road Fund' of the Greater Revenues Expected lamer at the end of last year of He was still unable to add to his seo, statement before the recess that an-the same time, Mr, Chamber-other £10,000,000 would bw required in made concessions to taxpayers: for the Air Force or to state what lower income levels by Increased would be wanted for the Army and low ances, Navy. though together both the Army Borrowing Forecast and Navy would probably need rather more than the sum allotted to The Government, the Chancellor the Air Force. led, had decided to continue the This provision for supplementary y industries duties for a period of estimates brought the total for the n years, and he forecast resort to supply services to 562,507,000, and trowing {0 meet part of the inwith £224,000,000 for "fixed "debt eased cost of defence services. charge and £11,300,000 for other eon-The now taxation proposed, Mr. solidated fund services, brought the wimberlain declared, could not be estimated expenditure for the current] sidered unreasonable, nor year to a total of £797,897,000. ink it would seriously affect the Estimating the revenue for 1936 provement in trade and industry, the Chancellor said he anticipated cause undue hardship. considerable upward movement in For the fifth time in successive Customs and excise, and was budget-ari, ho informed the House, ing for substantial increases in nearly presented a financial statement, all items, with a total estimate on believed the Government's policy the existing basis of taxation, of Leen an indispensable foundation £314,000,000, or £10,500,000 more tthe improvement in the dnanciat than the actual yield last year. economic condition which had "From inland revenue also he ex-abled the country to meet its large pected a substantial increase—210,- ewe in expenditure—without 000,000 more from income tax and irked addition to taxation, The two most important features of Government's policy, he udded, moly the introduction of tariffs and lablishment of cheap money, between them strengthened both lain': Indastry and agriculture, £3,500,000 more from surtax, which would show for the first time, owing to the year's lag behind income tax, the effects of the ast two years' trade improvement—Reuter.
True Surplus In his review of the past year, the wncellor commented thst, despite pokmentaryvolos. of nearly 00000 in. pince of the £400,000 which he had allowed, they had ied the year with a (rao surplus. The that "surplus, after allowing amount available, within the charge or debt Tedemplias 22984 000—a really inderful demonstration the of nancy of revenue, the Fevenue side, Customs and Ske selded90348,000, "That as sites of the estimate. by 1510.000 and of the previous year's of 213,790,000, nand revenue yielded £404,00.- of, b19600%00 mere than the Death duties gave £88,000,000, the tiiest yield ever obtained from this ce, "The large amount was to be hed not to exceptional receipts argo estates but rather 1 rel ten -capital values, which elt wag Pap miges,® Tesult of the growth of
Text read from the printed page and cleaned; old type leaves the occasional error.