The Finance Committee of the French, Chamber Title adopted the
proposals of M. Raoul Peret, the Minister of Finance. The Chamber is debating these proposals when we' go to press. Before the debate M. Peret warned the Finance Committee that he could not be responsible for the results if the proposed increase of the turnover tax were reduced and expedients, less sure in the raising of revenue; were subitittited. In answer ti) the objections of the retail trade he agreed to limit the increase in the turnover tax to wholesale transactions. The loss through this concession, he said, could be made up by other items, the most important of which would be increases in the duties on the sales of house property and commercial busineises. The Finance Committee by a fair but not a large majority agreed to M. Peret's proposals. It must be hoped that the Chamber will at last accept what satisfies the Finance -COMmittee, but there is, of course, no guarantee that it will. As M. Peret has said, the posi- tion has been growing more difficult every hour.
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