1941-04-09 — Page 39

THE CHINA MAIL, APRIL 9, 1941.

CHINA MAIL

-WINDSOR HOUSE

BRITAIN'S IRON BUDGET

None could suggest, having studied the Chan- cellor of the Exchequer's Budget for 1941-42, that the people of Britain have not undertaken with re- solute seriousness the task of carrying this war thr ough to a victorious con- clusion. Total expenditure i In the coming year is es timated at £4,207,000,000, ' a figure which takes no account of supplies undert the Lease and Lend Ad which will themselves pro bably exceed $1,000,000. 000 in value. The mean ing is plain; that the Scale of Britain's gigantic, effort is to be greatly in- creased; and that the tax- payer must delve Pyen deeper into his pocket.

Sir Kingsley Wood, in deed, gives him little option. The scale of inj Come tax and surtax is, raised to a level which a few years ago would have seemed fantastically ab- surd. The basic rate be- comes 10 in the pound.j and in the higher levels of income the taxpayer is permitted the somewhat grim satisfaction of 10-

TAX COLLECTOR

ROSS

PROFITS