INCOME TAX.

Dominion, Volume 2, Issue 619, 23 September 1909, Page 7

INCOME TAX.

CONCESSIONS ACCORDING TO- THE . ;-:;; : ,v;':':^EXPENDITURE.'..'■'.;. r .■;"-.■ (By Tclcgraph-Prcas' Asaooiation-OopyrlgHU 1 .;.-;'• ,'..' ! London, September 21.' 'I In tho. course 'of the discussion in com-' mittoo'df'the'Housri-of Commons on :- :he ; Incqmo'-TaS:clauses-.of;-tho. Finance Bill, MrJ Balfour, : said'' ho" rccochiscd:. that' Mr. : Lloyd-' George was'animated'by a desire to remedy injustice. Ho noted the Chancellor's admission that landowners'had been.overtaxed for many years..: '. -,-.-' •:'.'...\- ''■■- 'Tho'.Government's cbncess.ion-.ih regard to rebates to landowners—-who, provided. they actually spent tho moneyi on their estates;, will bo alWed'to claim for.refund of income, Up.to 25.per cent. of.the gross income on; which they arc assessed—will! in . tho opinion of some . Ministerialists,, have 'a favourable.influence on the fortunes of tho :"■;'-; '' '','"..' /-.:■ : •'■ ;';'•■'Tho Unionists' regard the. .modification as an act of; justice long overdue.'.Tho conoes-. ,sion is 'largely traceable to Lord. Onslow's representations through tho . Central Land Association, which proved that many owners were spending;a third of their gross income upon their property.'; -.'; Answering-a deputation,' Mr. Lloyd-George admitted that a cotnpleto .adjustment of tho landlords' grievances would cost tho revenue , millions .-.annually.'; ' ;. . , Among many bankers expressing opinions unfavourable to tho Budget aro Mr. W; M. Campbell,:governor of theßank of England, and (Sir R.' Lucas. Tooth, chairman of tho London' Board of the' Bank.of New. South ■Wales'.' ■'■•.'■'■■ . ; ; - "