Publisher's Synopsis
Excerpt from Inflation
The Prime Minister and the Chancellor of the Exchequer have declared in Parliament that the excess of public expenditure over revenue threatens the country with national bankruptcy and ruin.
The gloom of the forecast is justified by figures which are perfectly plain and ought to be understood by every thinking person.
In the last Budget estimate before the war (1913 - 14) the total produce from taxes was put down at £160 millions. For the present financial year the charge for public debt is £400 millions and for pensions £100 millions, that is to say more than three times the pre-war revenue from taxation.
Subsidies for bread, railways, trade and unemployment will absorb at least another £160 millions.
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