Friend

During last summer's parliamentary campaign, Belgium's Liberal party liberal promised a 25% income-tax cut.

election the Liberals joined the Cath (Christian Socialists) in a cabinet. The Catholics left the Finance Ministry -- and the chance to cut taxes as -- to the Liberals' sturdy Henri Last week Belgium's Parliament was Finance Minister Liebaert's cut in direct taxes (on property, shares), which would save Bel prosperous, free-enterprising tax $5,000,000 this year. Further reductions, hoped Liebaert, would save $30 million in 1950 and $40 million in 1951. Though Belgium has a deficit of $90 million this year, Liebaert, no advocate of the welfare state, thought he could still balance the budget, as well as drop taxes, by trimming social-security benefits, coal and railway subsidies.

This file is automatically generated by a robot program, so reader's discretion is required.