New Britain herald., 1924-04-29
ENGLAND'S BUDGET
 PRESENTED TODAY
Chancellor Recommends Abolition
 of the MCKenna Duties
r. Tie a.se-Isted Pre,s.

F, The Associated Press London. April 2a.-Chancellor oi I the ExeheqHcr snowdcn in his budget spe.ch today recommended that the Mckenna duties be abolished.
 These duties expire May |. inc . chancellor explained. but there Mas A period of three months additional for protection before the expiration actually became effective. Therefore they would expire August l. .-o al tera,ion in the income fax or the sl- per-tax was proposed by the chan ccllor.
 The budget schedule prov idcd for reduction of one half penny III tR' duties on cocoa. coffee and chic"rY. ue recommended also that the cor roration profits tax be abolished. The chancellor proposed no change in the postal rates The budget pro- vided for a reduction of three hal pence per pound on sugar. The tea ruty IS reduced iH half.
 Estimated Reductions.
 The chancellor estimated the total cost of all the reductions ih iaAa'loh recommended this year at Si.0"h.o9p po,.nds and ;a ihs full fiscal year at 4n4,s. goo pounds He ouid be ieil with an estimated surplus Of f,p@i,- Go0 pounds.
 saon,i,l''- speech
 phiip saowden. chBncellor or Nr e.cheaucr. in opening his hadgs statement said a surplus had beer realized Of E4S Ss9, eb9 on last years accounts.
 The knowledEn that tho labor gov ernmcn.'s first budCot was 10 he pre- sapfrd caused the house of commons ,o be filled for the initial meeting n- ter the Easter holidays.
 Mir. snowdon said the surplus real ized hal gone ro reduction of tn" dshi. of this surplus, f27,I5o,n neo was duo 10 reduced expenditure.
 The expenditure for the na'iorai debt services amounted to tat1,25h. nb0. nf which tIe.ooh,0e0 was Tor Inc sinking fund.
 Mir suo~d.n declared tAr country mrst ,lcso,e all the resources possible ,o fhe rraomption of ih" aebt which though a more indirect benefit than [  y.as no less real and was more wide spread a7d penetrating in is 'feet Ii improved international trade th' chancellor declared.
 Credit Is Es~rniiai
 "ln sicw of the great rohNcfsloi sehome we shah have io carry ont ' the no, far distant future he sail ''the maintenance and improvement uritish credit is . matter of the mos vital, first class importance
 As regarded the estimated revenue the chancellor felt Justified in bein rather optimistic as 10 tho fntnf' I'nemployment conditions, althoug still very bad, were improving an ther. were hopes of c new sctflemtf Tn Europe. Even now hade VIZ showing HickerinE but hopeful siEi of an advance. and wages were snow Ing a tendency to rise,
 The total revenue on tho fAisiin ,.xat,on basis he estimated at fSss 100000. leaving surplus or L"h'"'f GOO.
 eye on this side of the house. ! continued, "ncv,r believed mat " interests Of the empire would besi served in the long run by system tariffs. Tn these circumstances " government is unable to indorse U late eo,crnments dominion reiereh' proposals"
 Win Keep rislge
 Nr enow,lon added, however, fh ,bs former governments pledge submit the preference ptoposals inc house Of commons would Dc w filled.
 owe do not propose h" aFo"e .to ask parliament to abolish U nrerercnces now afforded. but "e ' serve fun liberty tp propose 10 pc ,iament. whenever it is deemed g nedient, to reduce or abolish all XIII of preferences now granted.