Page
THE CHINA MAIL, HONG KONG, THURSDAY, OCTOBER 25, 1945,
LABOUR'S FIRST BUDGET
Income Tax Cut By Shilling
LONDON, OCT. 24. IN A MOVE TO FREE OR RELIEVE THOSE EARNING LOW WAGES FROM INCOME TAX, THE NEW LA- BOUR GOVERNMENT ANNOUNCED, THROUGH THE CHANCELLOR OF THE EXCHEQUER, MR. HUGH DALTON, CHANGES IN TAXATION IN ITS FIRST BUDGET, TO BECOME EFFECTIVE NEXT APRIL, AS FOLLOWS:
(1) A RETURN TO PRE-WAR ALLOWANCES WHICH WOULD MEAN THAT A SINGLE PERSON EARNING LESS THAN $2-7-0 AND A MARRIED COUPLE LESS THAN £3-17-0 WOULD GO UNTAXED.
Mr. Dalton said that this would coat the Government one hun-
dred and sixty million pounds sterling.
(3)
(2) Reduction of one shilling in the present senle of Atty per- cont on taxable income. This means that the standard rate in reduced to nine shillings.
The establishment Df 23 Kraduated
ated tax scale. Under this plan, wage earners would pay three shillings
in the
pound on their first fifty pounds of earned taxable income and six shillings on the next seventy-five pounds, Under the war-tinse scale, the tax was at six shillings and six-pence on the first hundred and sixty-five pounds.
(4) Each increase In State in- come tax under the graduated seale is designed to make up for the one-shilling decrease in the standard raten.
BEER NO CHEAPER
Personal allowances are raised from eighty pounds to 100 pounds for a single man and from 140 pounds to 180 pounds for a mar ried man.
expressed
Mr. Dalton
regret that he could not bring about a reduction in the prices of beer and tobacco and said that the time hat not yet conse when they could in- dulge in these things,
"I hope that the encouragement given by the tax reductions will fend to
bigger production and. therefore, Lo A more abundant revenue."
Mr. Daiton.
per cent.
exreas
|
I
Based on the experience after the last war, the country would have is rst real surplus in 1949, er 1950, but it might move quicker thin tinu.
The Chancellor of the Exche- quer submitted that once the coun- try was through the transitional perlod it should aim at balancing the budget, not necessarily each year, but over period of years, deliberately planning to budget für a surplus when trade was good, and equally deliberately planning a budget for dellelt when trade wan had or threatening to go bad Regarding the taxation on pri vate Cork, there WILK general eral agreement that the present method of calculating horse-power accord- cylinder bore should go, it was generally agreed that and it the tax in future would be based o cuble capacity.
Turning to the proposals for the new financial year. Dr. Dalton anld that the Excess Profits Tax refund must ให
be put back Inte Industry to replace old mnebinary, Dr. Dalton said that next April he might be able to make further proposals regarding changes in taxation. He had gone deliberate ly slow
of indationary
because riska. Every tax remission ne free purchasing power for senter goods. Reuter and Associate! Press.
MR. CHURCHILL'S
QUISLING SHOT
at
London, Oct. 24. The Oslo Exchange Tele graph reported today that Vidkun Quisling was shot 2.40 m. as a traitor to Nor- way. Quisling's name became A synonym for traitor after ho became head of the Norwegian government under German Occupation Associated Press.
Middle East Partnership
London, Oct. 23. Mr. Ernest Bevin, Foreign Minister, atated to-day that, 80 far as the Middle East and Egypt were concerned, we might be "on the eve of one of the greatest partnerships ever de- signed."
at
Speaking at the luncheon held to-day to signalise the gift by the Egyptian people of £100,000 towards the Alamein Club Cairo, the Foreign Minister de- clared: "I hope we shall leave behind for over the idea of one country
dominating another. for your technical ability. and You need us for your defence,
for many other things. We need you equally.
"We must be associated, but I want that association to be. for the future, on an absolute; equality and
absolute partner- ship, on a footing in which the term "Anglo-Egyptian" something to the world."--Reu- ter.
HANKOW IN
TOUGH SPOT
means
Hankow, Oct. 24.
With peanut oil lamps to light; Hankow by night while hungry Chinese residents ΠΡΟ already
before
they
LINING UP FOR CRIPPS
Liverpool, Oct. 25 Much satisfaction is expressed locally at the decision of the Master Cotton Spinners Association to give full-support to the joint deputation of the Liverpool and Manchester Cot ton Association which will visit the President of the Board of Trade on November 7th. It is felt that the three organisations nhould be able to present a very strong case for the re-opening| of the Liverpool market as soon as the economic situation makes such courne justifiable.
Meanwhile the President, Vice- President and leading members of the local association are pre- paring their case for presenta tion to. Sir Stafford.--Reuter.
KING'S THEATRE
FOUR SHOWS DAILY 2.30, 6.10, 7.18 & 9.15 p.m. EPIC LIFE STORY of A DESTROYER!
BRFRISHI LION Precuts st
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"KIDNAPPED”
With gate to the reconversion of British industry Mr. Dalton
COMPLIMENTS
burning the last scraps of wood, ALHAMBRA THEATRE announced that, effective on Junu. Mr. Winston Churchill. lender it will not be long Kry Ist, the excess-profit
of the ta
Opposition, offered his start breaking doors for fuel. would be reduced from one hundred compliments to Mr. Hugh Dulton, Thi
This once flourishing
inland to sixty per cent
"on his bland, mild and temperale port of China is plagued with a He also said that he intended to survey of the dark, tumultous complete lack of coal, shortage of speed
the #4 #13
Twenty
and tortured financial por rent
Acene." in housing. inflation and disease. refund on the war-firs
the House of Communs to-night. The Chincas are
working fur- profit lax. and abo
He said that Mr. Dai to abolish
Dailon gave a iously repairing the extensive completely the purchase tax on a great deal of innocent pleasure damage done by American bomb- number of articles of special im by his ingenious serenity and his ings but the city awaits the cold portance for building, including barbed-wire entanglements ou winter. heatless, short of water heating
apparatus,
which every plumbing wh
farthing of profit and without electricity-Associat- equipment, refrigerators etc. was caught before it renched the ed Press. Associated Press,
pockets of the income tax payer and how, after that almost every
at farthing income was taxation
FULLER NATIONAL LIFE
Dr. Balton guid that be had gune slow in tax reliefs owing to the danger of inflation, but by next April the picture would be clearer.
exhibit
ant further
on
propusals
would be mudo.
"This is the first of a series of Hadgets which, I hope, will clearly ever-developing and ever-expanding plan for a fuller National life as we move forward together through what, I hope and
will be an historic Parlia ment," said the Chancellor of the Exchequer.
Sidney Campbell, Reuter's City Editor, writes that the Budget proposals went further than had been generally anticipated. Wage- earners receive an incentive by the income-tax concessions, while industry gets a stimulus in the reduction of the Excess Profita Тах
processes.
caught by WAGES INCREASE
This gave rise to a great deal REFUSED of harmless juy but whether in the long run the processes would be regarded purely as giving rise to hilarity would only be seen as the economic and faancial future developed.
Pittsburg, Penn., Oct. 24. The United States Steel Cor- poration has turned down the
of deinands the Committee of Industrial Organisation for 1 general wage
Increase of two Mr. Churchill professed to have dollars daily. been interested in the "juggle grant an increase at this time due
The Corporation is unable between the remission of a shill- ing on the standard rate of income to the existing celling prices and
the
wage stabilisation
TAX JUGGLE
Lax, regarding of the application polleated Press
not
to
of that rate to income tax and
The C.1.0. which claims a mem- the additional burden thrown on borship of eight-hundred thousand surtax "It
scoms," he commented; "that members has called a meeting to on the whole not very much has "authorise such actions as the happened so far as the medium situation may require."-Associat- and higher rates are concerned."
ed Press. Mr. Churchill Warned the Government that they must
New York, Oct. 23. The Navy transport Fraser Wighton, Reuter's poli. be drawn into uxaggerated hopes
"General tical correspondent, who watched that they were on the first fron-C. G. Morton" arrived here with the proceedings from the Parlia
tiers of a
A large and fertile terri-three-thousand troops from the China-Burma-India war theatre.- mentary prese gallory, writes that tory, as was the case in
in the days the crowded House sat spell-
the Lloyd George Budget.
Associated Press. bound as Dr. Dalton delivered
The entire area has been swept financial exposition,
which e
through, harvested and gleaned bera of all parties afterwards again and again," ho
said, "and we described no unique in its effort stand on the far side of what is now a thoroughly scrubbed fold." BULWARK AGAINST
All shades
Mem
less case and mastery of facts. opinion of political think that the Budget
will be
INFLATION popular with the public.
"Don't lot UB excape
for a COST OF LIVING SUBSIDIES moment from the conclusion that
Dr. Dalton said that he had the Booner we frot our
men to decided to hold the present cost work on fruitful labour and tho of living steady until further sooner Wo και our industries notice, even if this meant an in-humming the sooner, wo shall be a crease in subsidies. He believed live community again; and the that In tho near future price sooner those consumer goods will stabilisation would be even more be produced, which are the sole important than during the war,
(Opposition cheerst in-
These subsidica had been and parabic bulwark
aid
f BALE
STARRING
WARNER BAXTER FREDDIE BARTHOLOMEW
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JAPANESE SURRENDER DELEGATION IN MANILA
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2ND WORLD WAR NEWS BEELS JUST
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Entirely Different of What Haye Shown in Hong Kong! YOU'LL SEE
The British Pacific Fleet in
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Arnholm.
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in Carpet Bombing. German Oil Sources Devastation. Crossing the Hamp. The Battle of Burma.
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MON.
39 OCT.
TUES. 30
WED. 31
THURS.
**
1 NOV.
EDMUND GWENN
FRI
2 NOV.
SAT.
9
"
SCOTLAND YARD
SUN.
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with JOHN LODER
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5 NÓV.
TUES. 5
7 WED.
TEURS. 8
FRI 9 NOV. SAT. 10 SUN. 11
+
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A 10th Century Fox Platura CATHAY THEATRE WANCHAI ROAD
OPENING SHOWETO-DAY At 3.80, 7.16 & 9.15 p.m. First Shown in the Colony
TO BE SOLD AS SHE LIES "UNDER PRESSURE"
AGROUND OFF AH KING'S SLIP- WAY, NORTH POINT, THE ST- EAM LAUNCH "DAIRY FARM." OFFERS TO BE MADE IN WRIT ING ON OR BEFORE MONDAY,
29TH OCTOBER 1945 TO
THE SECRETARY THE DAIRY FARM ICE & COLD STORAGE CO., LTD. WINDSOR HOUSE HONGKONG
**THORNYCROFT”
Our Branch Office has opened emporary premises c/o Messrs
By Edmund Lowo, Viofor Molaglen & Florence Bloo Also
Latest News Boats nowly arrived from Europe "HORROR OF GERMAN-IN- TERNATIONAL-CAMP" "RECORDING MODERN
were still a most timely grant-in- "If you continue war expendi
to every household in the land taxat
ture in timo of peace and keep and had helped to restrain any taxation appropriate to rate of disproportionate increases in wage expenditure, and if you are also rates, which co
have disturbed committed to vast borrowings Blair & Co, at French Bank -- the whole
of Britain's which this entails, the whole of economic life.
this will exerciso a paralysing Building, 2nd floor, and we shall Last
year
the cost of living effect on Bubaldica cost the Exchequer about energies during the critical months will communicate enquiries to recovery and sap our be obliged if all prospective clients
a year. Now with when much can be won or lost that address during the present
must reckon with bub-{ *
tation of Lend-Lense the Mr. Churchill concluded-Reutergenty period where they will
aldica
promptly handled and com
costing cati. THE NEW STANDARD municáved to our executive who
Dr. Dalton'a mates last April total revenue for the year at $3,260,000,000 and axpenditure
£6,666,000,000,
at
leaving a deficit of £2,300,000,000 to be covered by borrowing. far as could be seen, the yield would conform to the estimate, and the final deficit for the year 1945-1940 would not, be far off the original entimáto.
COMPANY
Specialists in Termite (White Ant) Proofing and Control, Employing the latest methods for exterminating White Ants, Have pleasure in announcing
CYCLICAL BUDGETS Dr. Dalton said that no sonsible person would expect the presenta tion of a fully balanced budget next year. There would be in that they have opened offices at
creased expenditure, both to ox-Exchange Building. Sed floor, tend social services and, to carry out a number of other construative Rooms 322 and 923.
tasks. Family allowances
would
begin next year and increaseď Ola pensions, increased, expendi-
A
ture on housine and education and -Colonial duvalopment and welfare.
Telephones 22097 and 83320
is now proceeding to Loudonto ascertain, full details and specific stions with prices of latest modeln In all lines of our products
Vehicles Petrol/Diesel Marine Engines Petrol/Die
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Motor Boats & Water Craft
of all description.
BOLENCH”
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CHINA FLEET CLUB THEATRE
BHQWINGS ON THURSDAY
AND BUNDAY AT 19.80
Admission 50 Conta
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"BRIDE BY MISTAKE with Lorning Day & Alan Marshal, and Supporting Bastures.
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is a Direct Branch of
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Messrs.*
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& Co. Ltd., Smith Square,
ndan.
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· Andrave Blators, Eddie Cantor,
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ABSOLUTELY-NEW
A VIVIDLY PICTURISED CHRONOLOGY OF THE HIGH-LIGHTS OF THE WORLD WAR IN EUROPE AND FAR EAST.
Throbbing with the Spirit that made the United Nations groat I
SER: The Royal visit to Italy.
Great Invasion Socrot of Normandy.
Air Ammals on Berlin and Bussia's drive from the East,
Hell Fire Corner fortiitide of Dovarians and Canadians pay':
their debt for Dover.
Original D-Day Boje,
Night raids on Germany, Fiald Marahal Hilsonhauer's welcome
to the King on Inspection of Western Bronk. World's largest transport "Hawall-Mara". Busta's declaration of war on Japan.
Mooting of Pres. Boosevelt, Mr. Churchill and Marshal Chling. Australia's Crack. IXth Div. at total war in Borneo and Ballk
Papau
Landing in Palan Yeland,
General MacArthur in the fold.
HRAB: Land Louis Mounbalton's momago.
BILL: To the amazing revelation of superb, hard-hitt
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MUZROPHONIC BOUND SYSTEM-BEST PROJECTION