Word: chancellor
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Dates: during 1920-1929
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...fervent was Mr. Churchill's mood that, when Laborites attempted to heckle him, he fairly roared: "What! you mock us, do you? Then we will advance upon you with invincible power!" Paying but small regard to modesty, Chancellor Churchill added that "possibly" his new budget program is "the most important measure to be introduced in Parliament . . . since the great Reform Bill...
Program. As a prelude to his project, Chancellor Churchill drew attention to the undoubted fact that Great Britain's productive industries & farmlands are now crushingly burdened by "the rates," that is by taxes locally imposed. These local burdens upon production, said Mr. Churchill, must hereafter be borne by the country as a whole, and especially by firms engaged in distribution, such as the oil companies...
Thus is envisioned a shifting of the whole burden of British taxation so drastic as to seem epochal. Chancellor Churchill, beaming with confidence, announced that his program has the unanimous support of all members of Prime Minister Stanley Baldwin's Cabinet (Conservative). It is scheduled to come into effect as of Oct. i, 1929, with the passage of a series of bills, which the Cabinet expects to carry through Parliament before Christmas...
Fund. Though this huge sum will not have to be budgeted until 1929, a fund from which it may be drawn was proposed, last week, by Chancellor Churchill as a feature of his new Budget. He destined for this fiscal nest egg the budgetary surplus for the year just past, amounting to ?4,250,000. Further to swell the fund, Mr. Churchill established last week, to take effect at once, an increased tax of four pence per gallon on automotive gasoline and oils-a tax which he declared will bring in ?14,404,000 ($70,000,000) this year...
...exemption of ?36 ($175), last year, is at present worth ?60 ($292) in exemptions. Additional children are worth ?50 ($243); 4) Trifling alterations in the British tariff schedules will result, for example, in a fall of one farthing ?c) per pound in the retail price of sugar; 5) Finally Chancellor Churchill budgeted with satisfaction that, although Great Britain must pay upon her debt to the U. S. this year the sum of ?32,845,000, she will receive the nearly equivalent sum of ?32,000,000 from German reparations and the debt payments of her Allies...