Word: budgeting
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Dates: during 1920-1929
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Between the passage of the estimates and the presentation of the Budget, the Chancellor of the Exchequer is very busy. He may call on certain departments to reduce their estimates, knowing that when he goes to Parliament with the budget, a reckoning must be held. Then he must set forth the means he has devised of squeezing the necessary revenue out of the country. Then, if the measures he proposes are too drastic, there will be an outcry, a battle of words and of politics. Fingers will be levelled at him with the demand: ''Why have you not reduced...
Comment. Philip Snowden (Labor) : ". . . the worst rich man's budget ever presented"; Mr. Churchill has "compassion" for "the poor, overburdened, starving, unemployed supertax payer. . . . So much for this example of protection, pure and simple, by this greatest apostle and protagonist of free trade, a Tory protectionist Chancellor of Exchequer...
Ramsay MacDonald (Labor) was reticent. He derided the budget for taking money out of one rich man's pocket and putting it into the pocket of another. As regards the new insurance scheme, he would consider it when it was produced...
Winston Churchill (Conservative, Chancellor): "Let the Socialists go after Jan. 4 next to the 200,000 widows who, with 350,000 children, will be enjoying their pensions and let them say to these people: 'You are victims of a rich man's budget.' Let them go into 6,000,000 homes and tell the wives who will have behind them a guarantee they will not be left penniless if anything happens to the breadwinner: 'Here is another case of the Conservative Party helping their friends.' Let them go in 1928 to the 500,000 men and women...
Beyond saying that France could be expected to honor its bonds as soon as possible, he avoided reference to France's U. S. and British debts. He said that he was engaged in preparing the 1926 budget (the 1925 budget is still before the Senate) and that he aimed to produce one "which will be absolutely sound, as you English and Americans understand the word, which will meet every expenditure out of taxation and produce an impression of absolute sincerity." That, he said, was France's and his immediate task...