Word: chamberlaine
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Dates: during 1930-1939
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...unexceptionable remark from the Heir to the Throne. Today there is a potent group in the National Govern-ment who, having swallowed a high tariff and the idea of economic nationalism within the Empire, find it very much to their liking. Leader of this group is long-necked Neville Chamberlain, Chancellor of the Exchequer and head of Britain's delegation at the W. E. C. Chancellor Chamberlain, making his last official speech before the Conference's opening, seemed to be replying to the U. S. Ambassador and to his Prince when he told the House of Commons...
...weary orators. In parliamentary language the British Budget is not "presented" but "opened" once a year. No opening is so well attended, for what the box contains vitally affects the pocket of every inhabitant of Great Britain. For the second time in his career, greying, long-necked Neville Chamberlain opened the Budget last week in a speech that took two hours and left most of his listeners wry-mouthed. There were few open complaints. "Unimaginative" and "uninspired" were the favorite adjectives of the British Press. The U. S. Press's first shock was the discovery that Neville Chamberlain...
...Penny a Pint. As far as the British taxpayer was concerned, there was only one encouraging word in the Budget, that was Beer. The income tax remained at its old basic tax rate of five shillings in the pound-25%, the highest income tax in the world, though Chancellor Chamberlain offered a slight sop by restoring the old method of collecting in equal half-yearly installments instead of demanding three-quarters of the tax in January, one-quarter in July. The beer tax was reduced a penny a pint and brewers announced that this reduction would be passed...
British business's chief interest in the Budget was, did it balance? According to the Government's own figures it did, with the promise of a rosy surplus of ?1,291,000. BUT last year's Budget was supposed to balance too and Chancellor Chamberlain admitted a ?32,000,000 deficit. Rather acidly Chancellor Chamberlain pointed out that this deficit would have been a mere ?3,000,000 but for War Debt payments to the U. S. Despite increased taxation, tax returns dropped sharply last year. Most observers felt that only a U. S. moratorium...
...plain enough that unless drastic steps are taken to reduce expenditure, orthodox finance will soon become impossible. Meanwhile Mr. Chamberlain is in a sense making the worst of both worlds, for his Budget contains neither the anodyne of inflation nor the virtue of retrenchment. Indeed, the Budget seems confined to inflationary expenditure with deflationary taxation in a precarious equilibrium...