Word: budgeting
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
...Great Britain the Budget is an ancient red leather despatch box which rests on a table in the House of Commons and for most of the year serves as a convenient elbow rest for weary orators. In parliamentary language the British Budget is not "presented" but "opened" once a year. No opening is so well attended, for what the box contains vitally affects the pocket of every inhabitant of Great Britain. For the second time in his career, greying, long-necked Neville Chamberlain opened the Budget last week in a speech that took two hours and left most...
...announcement that there would be no provision for the sinking fund to retire the national debt, which last year bit ?32,500,000 out of the Budget. Penny a Pint. As far as the British taxpayer was concerned, there was only one encouraging word in the Budget, that was Beer. The income tax remained at its old basic tax rate of five shillings in the pound-25%, the highest income tax in the world, though Chancellor Chamberlain offered a slight sop by restoring the old method of collecting in equal half-yearly installments instead of demanding three-quarters...
British business's chief interest in the Budget was, did it balance? According to the Government's own figures it did, with the promise of a rosy surplus of ?1,291,000. BUT last year's Budget was supposed to balance too and Chancellor Chamberlain admitted a ?32,000,000 deficit. Rather acidly Chancellor Chamberlain pointed out that this deficit would have been a mere ?3,000,000 but for War Debt payments to the U. S. Despite increased taxation, tax returns dropped sharply last year. Most observers felt that only a U. S. moratorium...
...plain enough that unless drastic steps are taken to reduce expenditure, orthodox finance will soon become impossible. Meanwhile Mr. Chamberlain is in a sense making the worst of both worlds, for his Budget contains neither the anodyne of inflation nor the virtue of retrenchment. Indeed, the Budget seems confined to inflationary expenditure with deflationary taxation in a precarious equilibrium...
First reason for all this is that France needs money. Despite the vast hoards of gold in the deep cellars of the Bank of France, the French Government has a budget deficit to hold its own with any in the world, and must raise 5,000,000,000 francs by July 1. Another internal loan would be a risky business. To charm the francs from Jean Frenchman's famed sock to float the last one, the Government was forced to offer 4½ bonds at 98½ with the costly promise to redeem at 150. France therefore gets...