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BUDGET PROPOSALS.

(Per Press Association—Copyright). LONDON, April 30. Mr Austen Chamberlain, addressing a comparatively small House," said that his difficulties were abnormal. People were less inclined now to lend their savings than in war time. There was not the same disposition to accept burdens without grumbling. The revenue had exceeded the estimate by £47,000,----000, while the expenditure was £393,----000,000 below the estimate. The daily expenditure prior to the armistice was £7,443,000, and subsequently £6,476,----000. The National Debt at the end of March was £7,435,000,000. The estimate of revenue for 1919-20 includes £300,000,000 excess profits. Mr Chamberlain said that the nation was in a better position to face the future'because tiie percentage of revenue to expenditure was the greatest of all the belligerents. The estimated revenue in the riicure for a normal year on the existing basis of taxation was £653,000,-, 000, and the expenditure £766,000,000. lie proposed to make v Budget on that basis.

The Government had proposed a Select Committee to consider the land vaLue duties^ which at present are unworkable. \ There should be a reliable yahiation of land throughout the country. He proposed to review the motor spirit duty owing to the expense of collection, also to repeal the Excise duty on benzol, dropping the luxury tax and increasing the spirits duty from 30s to 50s per gallon. Beer duty would be increased from 59s to 70s per barrel. Tobacco would be unchanged.^ The estimated extra revenue from spirits would be £21,000,000, and from beer £31,----000,(300.

In the new Budget income tax is unchanged. The added duty on wine- is (id per gallon on the lower vduty and 9d per gallon on the higher duty.

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Permanent link to this item

http://paperspast.natlib.govt.nz/newspapers/AG19190502.2.19.1

Bibliographic details

BUDGET PROPOSALS., Ashburton Guardian, Volume XXXIX, Issue 9599, 2 May 1919

Word Count
277

BUDGET PROPOSALS. Ashburton Guardian, Volume XXXIX, Issue 9599, 2 May 1919

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