20 April 1920
The Government said that the Post Office was running at an annual deficit of £11 million and that postage prices would have to rise to help cover that. The price of telegrams was also increased and it was announced that a review would be undertaken on the price of telephone calls.
The Chancellor of the Exchequer, the Conservative Austen Chamberlain, serving in David Lloyd George’s Government, unveiled his budget and revealed that the Treasury had received more in tax receipts than had been expected. This was partly due to the increased usage of spirits, beers and tea, and an “unprecedented increase” in the usage of tobacco. This meant that despite the challenges of the economy, there wouldn’t need to be any more borrowing to fund expenditure. The cost of funding the war were still high, so there were a number of tax increases. This meant a doubling of wine duties, a 1d per pint increase in beer duty, a 2s per bottle increase in tax on spirits and capital duty was increased for business.
Sir John Boraston, the Joint Principal Agent of the Unionist Party, died at the age of 69.