Word: budgeting
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Dates: during 1940-1949
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...Labor Members, many of them sitting on the floor of the overcrowded House, critically eyed their man. From the packed gallery peered the Bank of England's Governor Lord Catto. To lords and cabbies, Hugh Dalton was about to open the new Socialist Government's first budget...
...method, it was like any Tory budget. But its arithmetic was drastically different, not because socialists had written it but because Britain was at peace. Hugh Dalton achieved a miracle: he pleased almost everybody. To Britons, his budget brought a 10% cut in the standard income-tax rate, more deductions for wives, the abolition of a 33 1/3% tax on household goods. For business, the excess-profits...
Usually rated diligent but dull, Hugh Dalton blushed when the House cheered him last week. Tories were relieved. Bankers beamed. Even Lord Catto, certain that his bank would soon be taken over by the new Government, was not shocked. Britain's new budget was a good, middle-of-the-road job. Next day, prices rose on London's stockmarket...
...good many years, Canada's Liberal Government has clucked maternally about the joys of free trade, the selfish shortsightedness of high tariff walls. Last week Canadians discovered that the Government does not always practice what it -preaches. Buried deep in the budget, and bypassed in a 42-word, offhand way by Finance Minister James L. Ilsley in his recent budget speech (not of "major importance," said he), was a new 20% tariff wall-increased from 5%-on seamless-steel boiler tubing...
...treat for the taxpayers was a House bill which cut the Federal budget almost one-third by canceling $52 billion of authorized expenditures. The biggest savings were in the appropriations for the Army (cut $30.9 billion) and the Navy (cut $17.6 billion...