11 MAY 1929, Page 34


Unfortunately, no one of the three political parties is really displaying the cause of National Economy upon its banner, but roughly and, I think, fairly stated, the Conservative programme involves no pledges of enlarged expenditure for social or other purposes, while, on the other hand, the Liberal and Labour leaders avow publicly their intention to spend very large sums of money, the main difference between the two policies being that while Labour declares in advance its intention to impose increased direct taxation upon the well-to-do, the Liberals appear disposed to find most of the required sums through the process of borrowing.