News of the Week M R. CHURCHILL in presenting his fourth
Budget on Tuesday surpassed his achievement of last year. Then he did a number of conjuring tricks, and the appreciation of the singular skill with which he performed them was clouded by the sense that they were all very bad precedents. This year there was no such cause for a diminution of praise. His complicated Budget was not merely arranged with wonderful lucidity but was founded on constructive principles, of which we hope and believe the benefits will continue through the years. The speech lasted for about three hours and a quarter, not including an interval for tea. In our first leading article we have discussed Mr. Churchill's main proposal to help industry by a great scheme of rating reform. Here we will summarize his points in a convenient order.
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