Show ESTIMATE COST OF ONE YEAH OF WAR ENGLAND WILL SPEND OVER TWO BILLION DOLLARS ON ARMY AND NAVY to pay this enormous bill the government has decided to borrow large sum and 0 double 0 uble income tax london david lloyd george chancellor of oc the exchequer in the house ot of com commons mons on tuesday estimated that tho the cost of one year ot at tho the war for tills this country would be the largest amount england has haa over ever spent on a war an and I 1 more than twice what was spent I 1 in tho the four years conflict in south africa to pay this enormous bill the government has decided lie he said to raise a loan of which would bo be issued at 95 bear interest at tho the rate of 0 3 per cent and bo be redeemable at par march 1 1928 the chancellor proposed and the house unanimously supported him that the income tax should be doubled but only collected on an one third of tho the income this year that an extra halfpenny half halt penny 1 I cent per halt pint 11 should hould bo be levied on beer and an extra three pence G cents per pound on tea lie he explained that the expenditure on tho the british troops would bo be higher in proportion than that of any other country in the world as aa tho the pay and the cost of the army and navy were greater there were separate allowances to too men and their families famili cs and pensions were on a larger scale already were serving and another i were in the course of cf enlistment all the resolutions covering david lloyd georges proposals for new taxation were passed |