Show ESTIMATE COST OF ONE YEAR OF WAR ENGLAND WILL SPEND OVER TWO BILLION DOLLARS ON ARMY AND NAVY f to pay this enormous bill the government has decided to borrow large sum and double in ome come c tax london david lloyd george chair bellor ot of the exchequer in tho the house ot of commons on tuesday estimated that tho the cost of one year of tho the war for this country would bo be tho the largest amount england has over spent on a war and more than twice what was spent ent in ilio iho four years conflict in south africa to pay this enormous bill tho the government has decided ho he said to raise a loan oan ot of which would bo be issued nt at 93 95 boar bear interest Into roat at tho the rato rate of S per cout cent and bo be redeemable nt at par march 1 1928 tho the chancellor proposed and tho the house unanimously supported him that tho the income tax should be doubled but only collected on one third I 1 of f tho the income this year that an extra halfpenny half penny 1 cent per halt pint should be levied on beer and an extra three pence 6 cents per pound 01 on I 1 tea ile ho explained that the expenditure 0 on n the british troops would bo be higher in proportion Iro portion than that of any other country in tho the world as the pay and tho the cost of tho the army and navy were greater thero there separate allowances to tue men and their families and pensions were on a larger scale already were serving and another 1000 Ov were in the course of enlistment all the resolutions covering david lloyd georgos proposals tor for new taxation were passed |