The total expenditure in the financial year 1928-9 would be 9076,500,000 compared with £681,- 000,000 last year.
The Chancellor declared that the relief of rates on production was the first and most urgent remedy to he applied to the present trade Position. Me contemplated a scheme to give between £20,000,000 tand £30,000,000 a year for a great operation to give producers rating relief, A Valuation Ascertainment Bill yw Atreduced ill would be introduced ster the £727,381,000 and the revenue £761, 083,000, leaving a cross total prospective surplus of—£33,702,000, from which he took £19,200,000 for various remissions of taxes, leavin margin of £14,502,000 to be enrried forward in the Suspensory Fund (Surplus), to which he added last year's surplus of £4,239,000, This made the total of the Suspensory Fund £18/141,000, which, Mr. Churchill said," would be used meet ordinary contingencies in 102% or the supplementary demands of local authorities, 'The Chancellor of the Exchequer! spoke for three hours, 'The Rt. Hon. Phillip Snowden, Mr. Churchill's prealeceasor as Chancellor of the Exchequer in the La-hour Government of 1924, and the: Rt. Hon. David Lloyd' Georxe, leader of the Liberal Party, form. ally congratulated the Chancellor, of the Exchequer on a "very bril-Mant achievement" and on his "extremely fine performance," par-Siculary as toga the tele The House: of Commons agreed to the Ten Duty, which has not been changed, and also agreed to the remaining Budget resolutions continuing the existing taxes or authorising new ones.
The decision of the Government to increase the duty on foreign films by 2d. rer foot is estimated to Produce £45,000 in the present financial year.
Text read from the printed page and cleaned; old type leaves the occasional error.