Orders of the Day — Finance Bill.

Part of the debate – in the House of Commons at on 27 May 1924.

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Photo of Mr Oswald Mosley Mr Oswald Mosley , Harrow

The hon. Gentleman who has just sat down opened his speech by welcoming the Chancellor of the Exchequer as a good, sound, Conservative financier. He went on to say that his Budget was insincere and cunning. Have ever cause and effect been more clearly demonstrated? The hon. Gentleman went on to complain that the Labour party had carried no Measure of Socialism in the present Budget. It would be equally just to complain that his own party are not carrying Protection in the present House of Commons. They have more Members than we have. But there is this difference between the Labour party and the Conservative party. The Conservative party have abandoned altogether from their programme the great principle of Protection which they say is vital to the welfare of the country, while the Labour party have not abandoned Socialism and will fight on it again. After one defeat they have not abandoned their principles. After one defeat the Conservative party have abandoned their principles. The hon. Gentleman went on to advance fears as to next year's Budgetary position. Well, there is a prospect that yet further Conservative bodies, such as Singapore, will be dug out and extirpated as Labour proceeds in office; that economies will be made in unproductive services which were not made under a Conservative Government; and, if he is looking for fresh sources of taxation, Income Tax is not the only source. I would recommend to him land values, and I was delighted to see that the Chancellor of the Exchequer foreshadowed some such event in a recent speech. There is also the possibility of the Super-tax. The ruin of the country will not be involved by finding money from either of those sources for the carrying on of most progressive, essential social reforms. The Capital Levy, again, cannot he carried by a minority Government in this House.