Salt Lake Telegram | 1936-04-21 | Page 15 | British Draft New Tax Plan

BRITISH DRAFT NEW TAX PLAN LONDON April 21 UP Neville P Neville Chamberlain chancellor of the cx- cx today declared the BrItish British Brit BrIt- ish government must resort to additional additional addi addi- taxes to give the empire a balanced budget budet He announced that there would be an increase In the Income tax and the tax on tea that a surtax would be bc levied on lager beer imported imported imported im im- im- im ported from countries and that duties on key Industries would be bc continued 10 years more The Tho chancellor said the government government govern govern- overn- overn ment operated at a a. profit of pounds last year but that the total estimated revenues from Crom usual sources would put the government pounds in the red in the next 12 months With the new taxes however Chamberlain estimated that he would balance the nations nation's books bools with a surplus of pounds figuring the coming fiscal years year's income at pounds This income will b be made up of the tho usual revenues plus the new taxes Chamberlain regretted that the whole cost of the defense program to be carried out in a short time should prolong the revenue exacted from the thc people In a single five- five year period The chancellor announced that he hc was setting aside pounds for supplemental estimates for defense defense de de- de- de tense services in addition to the estimates already published Half of t this is supplemental estimate will go to the air force