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The Cordele Dispatch And Daily Sentinel
Cordele, Crisp County, Georgia
What is this article about?
In London on April 29, Chancellor Snowden's budget speech recommends abolishing McKenna duties by August 1, halving duties on sugar and tea, letting dried fruit duties lapse, reducing cocoa, coffee, and chicory duties, and eliminating corporation profits tax, with no changes to income or super taxes or postal rates.
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BRITISH OFFICIAL RECOMMENDS M'KENNA DUTIES BE ABOLISHED
London, April 29.-Chancellor of the Exchequer Snowden in his budget speech today recommended that the McKenna duties be abolished. The duties expire May first, the chancellor explained, but there was a period of three months additional for protection before, the expiration actually become effective. Therefore they would expire August the first. No alteration of the income tax or super tax was proposed. The chancellor proposed no change in postal rates.
The budget provided for a reduction of half of the three half pence per pound on sugar and a half penny on tea. The duty on dried fruit was not to be renewed under the budget provisions and would lapse August first. It provided a reduction of half the duties on cocoa, coffee and chicory, and recommended that corporations profit be abolished.
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Foreign News Details
Primary Location
London
Event Date
April 29
Key Persons
Outcome
mckenna duties to expire august first; half reduction on sugar duty (three half pence per pound) and tea duty (half penny); dried fruit duty to lapse august first; half reduction on cocoa, coffee, and chicory duties; corporations profit tax to be abolished; no changes to income tax, super tax, or postal rates.
Event Details
Chancellor of the Exchequer Snowden in his budget speech recommended that the McKenna duties be abolished, explaining they expire May first but with three months additional protection, thus effective August first. No alteration of the income tax or super tax was proposed. No change in postal rates. The budget provided for a reduction of half of the three half pence per pound on sugar and a half penny on tea. The duty on dried fruit was not to be renewed and would lapse August first. It provided a reduction of half the duties on cocoa, coffee and chicory, and recommended that corporations profit be abolished.