Surplus

Proudest man in the Irish Free State last week was Ernest Blythe, Minister of Finance since 1923, Vice President of the Executive Council since 1927. Shrewdly waiting until fortnight after the British budget was read, he announced his budget last week. In the second year of World Depression, with formidable deficits facing the governments of Great Britain, Italy, Germany, the U. S., Australia, Argentina, etc., etc., Finance Minister Blythe was able to announce that the Irish budget for 1931-32 balances easily at -L-24,661,000 ($123,305,000). Taxation yields for the past year have exceeded estimates.

"The net national debt," said Finance Minister Blythe, "of -L-115,274,000 represents an increase of -L-400,000 above last year's account because of abnormal charges, but from the standpoint of ordinary exchequer transactions the debt fell by -L-266,000. The income tax produced -L-50,000 more than in the previous year, exceeding the estimate by more than -L-250,000 but the liquor tax was disappointing."

The lush condition of the Irish Free State's finances was not arrived at without squeezing the taxpayers. Its income tax (three shillings in the pound) is almost as great as Britain's (four shillings sixpence), though its surtax is approximately 50% less. At the same time that Minister Blythe announced his surplus he announced a tax on gasoline of 8 cents a gallon, increased the entertainment tax on talking films to 6 cents a foot. Indirectly he increased the troubles of President Gerardo Machado of Cuba by raising the customs duty on sugar to 2 cents a pound. Irish sugar-beets are providing a good share of the Free State's sweetening. One tax was abolished, that on race course betting.

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