THE COMING BUDGET.
As soon as the actual Revenue results for the year which has closed become- known it is - easier to judge of the general problem with which the Chancellor will be con- fronted in his new Budget, though it does not. of course, follow that it is any easier to discover in advance the precise character of the Budget itself. For example, it might be that, even with the certainty of a moderate sur- plus, the Chancellor might decide to apply certain new luxury taxes in order to be able to take off taxation in some other direction where the shoe pinched more severely. Or again, according to the optimism or pess- imism displayed in estimating the new Revenue, the pros- e surplus would, of course, be affected. When, owever, allowance is made for these and other possi- bilities, it must be confessed that the outlook for 1929-80 is more hopeful than at one time seemed to be likely.
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