1938-05-27 — Page 17

TO-DAY

AT THE

THE HONGKONG TELEGRAPH, FRIDAY,

KING'S

Their Romance Made The World Stand Still! M-G-M's Mightiest Production! Two Glorious Stars!.... Cast of Thousands! A Full Year.... A Fortune..To Make!

GARBO BOYER

"MARIE WALEWSKA

FM

CLARENCE

BROWN

Production

with REGINALD OWEN - ALAN MARSHAL HENRY STEPHENSON LEIF ERIKSON DAME MAY WHITTY C. HENRY CORDON

A VLADIMIR SOKOLOFF

Beras Play by kamusi Heltem tein, Babka Varist and

8. H. Denizanny Produced by Bernard it. Hyman

Directed CLARENCE BROWN | Maria Walewaka

A Metro-Goldwyn-Mayer PICTURE

riepoleon's dramatio retrant from Moscow! Hundreds of vennene, kotues, thosaande ol noidiere la saforgettable dramat

(Garbol pleads with Hapaleca (Boyer) 10 apare her people.

also

Pomp and panoply al Napoleon's topal wedding 400 court besliss.. dasting dostumas. Lors for. gotten in the lust for powai!

LATEST NEWS OF THE DAY

Thrills! Speed!! Action!!! QUEEN'S THEATRE

Announces

SPECIAL WEEK-END PERFORMANCES

TO-MORROW & SUN. MAY 29.

at 11.00 a.m.

) Part 1. "The Mystery Squadron

SUN. JUNE 5.) Part 2.

MON. JUNE 6.

SAT. JUNE 11.) Part 1.

SUN. JUNE 12.

SAT. JUNE 18. ) Part 2.

SUN. JUNE 19.

SAT. JUNE 25.) Part 1.

SUN. JUNE 26.

SAT. JULY 2.

SUN. JULY 3.

) Part

Amazing Aerial Exploits

with

BOB STEELE

"The Last of the Mohicans"

An Epic Serial of the Immortal Classic with

Harry Carey & Edwina Booth

"The Galloping Ghost

The Greatest Stunt Sorial Ever Made with Harold "RED' GRANGE

(NOTE: These Serials Will Not Be Shown At The Alhambra)

Count the "TELEGRAPHS" everywhere

MAY 27, 1938.

CHANCELLOR SHOWS TAXATION GROWTH IN PAST DECADES

100,000 Britons Principal Contributors to Treasury

London, May 26.

Interesting figures were released by the Chancellor of the Exchequer, Sir John Simon, during the debate in the House of Commons, yesterday on the Finance Bill.

He claimed that the general good: In the United Kingdom only | about 100,000 people were pay- sense of the country as a whole ap- Ing the full rate of us. 6d. In the proved the middle course. He called attention to the fact that observers' pound in income tax,

abroad and critics all over the world were not reproaching Britain with foiling to pay their way, because they critics weru had used two resources-borrowing. and taxation. These much more impressed by the fact that the country was resolutely fuc ing its burden without avoiding taxa- tion.

These 100,000 people pay £265,000,000 income tax, or an average of £2,650 per annum each.

Actually approximately half of the £265,000,000 was con- tributed by 10,000 of the 100,- 000 people. These 10,000 pay on an average £13,250 each per annum as contributions to The Exchequer.

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vations on the debt the Chance THE HONgkong dairy SUPPLY CO., LTD.

Answering Mr. Alexander'a obser-

had pointed out that though there been an increase in the deadweight £000,000,000 sinec debt of nearly

it was due to 1931, £550,000,000

Fund, the Exchange Equalisation and nearly all of it was supported by

assets.

The debate was opened by Mr. A. V. Alexander who, for the Labour Opposition, reminded the Government that they had come

The Chancellor then made an un- into power in 1931 on the claim that

to be relief ott the they would snfeguard the country's nouncement

afforded in respect of Air Raid Pre- Atances by orthodox methods.

Instead, he declared, they had in-cautions. He sald Government would creased the deadweight debt and had introduce legislation to secure that values of properties started a series of unbalanced budgets the annual after absorbing for expenditure the should not be increased for the pur- whole of the economics on the War poses either of income tax

rating, by reason of expenditure in Loan Conversion operation.

Itis eritietsin of the Finance Blithecurred in structural alterations, ari- |based on a contrast he sought to draw ditions or improvements made solely

he al- which

for the purpose of protection in the tween

priteering

event of air raids, ment, and from state subsidies on the one hand, and heavy indirect taxation un the other.

[Kt was taking place out of rearma-

or for

Turning to charges of Profleering, Sir John Simon sald there was no proof that there had been vast pro- The Chancellor of Exchequer, Steering in armaments, and as soon John Shino. In his reply

rebulted

as the armaments programon began the suggestion that the burden of the Government bird set to work to

try to devise inachinery to ensure should be reasonable and nut exrea- sive.

laxation was inequitably distributed, end mentioned as a result of the that the rate of profit on contracts graduated scale and allowances the only incume-tax payers who suffered the full rate of is. GA. in the pound were those who fell in the Surlax class, and who numbered only about

100,000.

pay

These 100,000, he estimated, £265,000,000 in taxation, while about hall of that sum was contributed by about 10,000 out of the 100,000, whose incomes exceeded £10,000.

the

In conclusion, the Chancellor spoke of the staggering increase of taxation and expenditure over recent gencra- tions. A Budget of £1,000,000,000 would have seemed incredible when he first entered the House of Com- mons in 1900,

He recalled there had been only one Chancellor of the Exchequer in eccent generations who had never produced a Budget. Lord Randolph Churchill bad resigned in December. 1886, and thus did not

open

18

Coming to the question of a strict balancing of the Budget and borrow-

he kept ing. Sir Simon said

two propositions mind in conaldering

right course to adopt. The first was that borrowing only Budget, because he resisted the de- postponed payment, and did not ob-mands of Service Department total- vlate it. The second was that the ling £13,000,000. To-day, they were increased burdens they faced to-day proposing to spend £343,000,000 in in Britain were not likely to be re- one year on Defence. duced quickly or substantially.

In these circumstances, he thought he

Justified in following te the

middle

but, as course, expected, he had been altacked from both dies by the financial purists and by those who thought he should have met the whole of the excep- tionally high expenditure on Defence.

was

"But we will find this expenditure, for the sake of the defence of our native land, and for the security of the beliefs and convictions we hold. "We will spend this vast sum for the sake of liberty, which as it grows

For its precious: rare, grows dearer. liberty this country is prepared to pay the price."-British Wireless.

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ANNOUNCING

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