THE IMPERIAL BUDGET.

Ashburton Guardian, Volume XII, Issue 5057, 7 March 1900, Page 3

TH E IMPERIAL BUDGET.

THE WAR CHARGES

United Press Association—By Eleotrlo Telegraph—Oopyright«

Fresh Taxation Imposed.

Increase in the Army Votes.

Old Age Pensions for Great Britain

United Press Association —By Eieetno Telegraph—Copy r igh t London, March 6

In the House of Commons hir Michael Hicke-Beach, Chancellor of the Exchequer, delivered his budget speech. He said he proposed to borrow thirty-five millions, whereof the war loan would absorb thirty millions. It was intended to add fourpence to the income tax, fourpence duty on tobacco, sixpence on foreign cigars, twopence op tea, sixpence a gallon on spirits, 'a shilling per barrel on b« er.

The budget was applauded and the resolutions agreed co. Sir Michael Hicka Beach adhered fco his statement made ia October as to the Traosvaai'u capacity to bear a reasonable share of the expenditure, but in view of compensation due to the loyalists of Natal for their los^, and the enormous British expenditure, the Transvaal's capacity to be&r the cost was a less imp jrtant factor now, though still import ant The chief consideration was Britain's promptitude in meeting her liabilities, which oHorded foreign critics a proof of her earnestness in the work wherein she was engaged. The expenditure this year apart from the war, said the Chancellor, was only £1 10,500,000 showing a likely surplus of live millions and a half. The real deficit waa 17f millions, whereof eight were temporarily covered by exchequer bills. The year 1899 had been extraordinarily prosperous, but this was not attributable to the war. The estimated expenditure next year would be 154 millions, and the estimated deficit 87 millions. The increase in the army would be 47 millions, whereof 38 millions would be^due to the war.

The Budget imposes a shilling on brokers 1 contracts for the sale of produce. Enormous withdrawals in expecta tion of increased duties were made from the Custom Houses in Liverpool, Glasgow, Leith, and Portsmouth. In some instances cheques for forty and fifty thousand pounds were paid.f

(Received Wakapuaka Mar. 7, 9 30 a.m, Thii Office 10-34 a.m) London, March 6 Although it is considered unlikely tfas*t the Budget proposals will be seriously opposed the Times, Standard^ and Morning Post express regret that Government has not widened the basis of taxation instead of persisting in the present inequalities. A Departmental Committee reports on the House of Commons Committee Bcheme for pensioning the deserving poor at the age of 65, at a cost of ten and a quarter millions in 1901 and fifty per cent more in 1921.