Show BRITISH BRISH BUDGET TO l TAXES 10 TO PEOLE EPLI T PEPE I Postage on New I I Doubled tIn- lh- lh Ii r-q r creases Ordered i II LONDON Oct Oct It r 1 Th The et tl of ofte the te new budget are out out and md the the Je general gen eral erl opinion is that it is is' is fair Iud l reaches the pockets pocket of thol those best bet able to pay PY as well as those t who ha hay have Vf hitherto b en directly affected In Inthe Inthe inthe the latter later category are ar to to tobe b found the small wag wage earners camera who will smal i now pay their cent o or two through thrush the Ue Increased increased in in- creased tax on tea ta on ea cocoa ocoa and tobacco tob- tob co co and the tha the art artisan n who Is Ia II piling up an i Increased eale Inc Income mp by reason of overtime o ertme pu wa WI was contracts and th the small farmer who will wl be brought Into In line with other bu business regarding inc nie e ta tax Usual Outcry Corn Com There has baa ha already alread been th the u usual outcry from certain trades hit ua or OJ likely Imely to Ie De bit hit b by the new neW taxes an and several deputations are likely to keer the chancellor of the bus with wih their complaints for tor a I time Ume Th The Tt abolition of ot hal penny half POl postage l r caused considerable dismay In In th the Ut picture postcard frade rade and newspapers pers lr and publishers who are also atlO u ui ur in arms at the prospects of or double postage bills for dally daily daly and ad ech papers as well wel as periodicals anc magazines magazines 1 In the thE tea trade It i Is II expected tha consumption will 1 be on a rth rath rathe on smaller scale scle and already alread the he in tea te shops is said sid to be reduced ruce The sugar tax caused a a great geat cr from consumers In the suburbs an aI provinces as retailers put up th tb price Irice immediately the budget was an announced announced flounced and many and and- bitter biter the remarks fired fied at managers of or various retail stores On of the te surprises is the tax tx on hat which will affect principally 01 ladle ladIe millinery imported Importe from Paris men hats being made up almost from materials imported The tax tx on petrol is s likely to decrease de dc crease the earning earing capacity of ot fail cabs cbs whose f fares res are regulated b bj bi the home home office ofie and may ay cause a revision revision re vision In fares of the various motorbus motorbus motorbus motor- motor bus companies As far as the stock exchange i If il concerned gratitude was wa expressed that tat the increase se was wa not greate te but g it is at the same time recognized that Investment business which is at a R low ebb at present nt will wi probably decrease de de- de- de crease cree especially In hi those thoe commercial undertakings which were ere bought In anticipation of or increased divid dividends nd but which will wU not be subject to special cial war tax on profits I Work Is Increased The new method proposed by by th tho for deducting Income tax x from tram the Interest paid by banker on em current and deposit account is a n minor matter mater when compared compare with wih the larger Interests Interest involved In In the budget but according to a banker whiting In the financial papers paper it I creates difficulties Broadly speaking speaking speak speak- spek- spek ing current curent accounts do not carr carry interest In London while they do Inmany in inmany inmany many provincial districts but even evenIn evenIn evenin in London there are exceptions to this rule notably in the case ce of or ac accounts IC- IC gc- gc counts of foreign banks on which In Interest Interest interest In- In terest Is usually allowed they In their turn reciprocating on amounts left lef with them The withdrawal of ot balances maintained in London might and as it I. I is possible that they amount to many millions probably would adversely affect the exchanges therefore be a matter for serious seri serl- serous ser ser- ous regret If It the new regulations should detrimentally affect the conditions con conditions under which the balances in question are held In this country Such a a. result resul would be another blow at the supremacy of London in fi fi t. t na nance The g same ame banker sees In the tho new tax or thereof a ser serious Increase in wor work k for both inland revenue nue authorities and ad the already depleted depleted de do- staff of the banks bake |