INCOME TAX.

Evening Post, Volume LXXVIII, Issue 72, 22 September 1909, Page 7

INCOME TAX.

CONCESSIONS TO LANDOWNERS LONG SITTING ON THE FINANCE BILL. SEVERAL CLAUSES CARRIED. tßjr Telegraph.— Press Association.— Copyright.; LONDON, 21st September. In the House of Commons, after a twelve-hour sitting, the income tax clauses of the Finance Bill, up to clause49, were carried. Mr. Lloyd-George, Chancellor 1 of the Exchequer, admitted that the assessment under schedule A pressed' unfairly upon the better class landlords, though he was unable to assess landlords under schedule D. The Chancellor announced that landlords, providing they actually spent the money on their estates, would be allowed to-claim for a refund up to 25 per cent, of the gross income upon which they were assessed. Hitherto owners have been allowed to deduct from their gross revenue one-sixth in respect of" houses and. one-eighth in respect of farms •on account of repairs and maintenance. This continues, but an owner spending more is entitled to a- further refund. Mr. Lloyd-George estimated that this concession would cost the Exchequer £500,000. He added that, far from under-estimating the total revenue during the coming year, he had over-esti-mated ifc. INJUSTICE REMEDIED. BUDGET'S FORTUNES FAVOURABLY AFFECTED. (Received September 22, 8.5 a.m.) LONDON, 21st September. In the course of the discussion on the Income Tax clauses, Mr. Balfour said he recognised that Mr. Lloyd-George was animated by a desire to remedy injustice. He noted the Chancellor's admission that landowners had been overtaxed for many years. Some of the Ministerialists expect that the Government's concession in regard to rebates to landowners will have a favourable influence on the fortunes of the Budget. The Unionists regard the modification ■as an act of justice long overdue. The concession is largely traceable toLord Onslow's representations through the Central Land Association, which proved that many owners were spending a third of their gross income upon [ their property. Answering a deputation, Mr. LloydGeorge admitted that a complete adjustment of the landlords' grievances would cost three millions annually. UNFAVOURABLE OPINIONS. EXPRESSED BY LEADING BANKERS. (Received September 22, 8.5 a.m.) LONDON, 21st September. Among many bankers expressing opinions unfavourable to the Budget are Mr. W. M. Campbell, governor of the Bank of England, and Sir R. L. Tooth, chairman of the London board of the Bank -of New South Wales. ' LIBERAL LEAGUE. ■LORD -ROSEBERY ADVISES DISSOLUTION. LONDON, 21sfc September. Lord Rosebery yesterday attended a. meeting of the executive of the Liberal League (formed in 1902 to promote the policy set forth in Lord Rosebery's Chesterfield speech while co-operating with the rest of the Liberal party). It is understood that his Lordship advised the dissolution of the league, declaring that this should have been done after the last general election, when such a course of action would have secured the return of sixty or seventy members, and saved the Liberal party from committing itself to an anti-Imperialistic policy. I The meeting, ifc is understood, referj red the question of dissolution to the council of the league for decision. TRADE BOARDS BILL. (Received September 22, 8.35 a.m.) LONDON, 21st September.' The Trade Boards Bill has been read a third time in the House of Lords. The measure is designed to check the evil of sweating. It establishes Trade Boards, whose duty shall be to fix , minimum rates, of wages fov time work in certain trades. The trades to which the Bill at once apply are :— (1) Readymade and bespoke wholesale tailoring; (2) cardboard box-making; (3) machinemade lace and net finishing; and (4) ready-made blouse-making. To these trades others may from time to time be added in which the prevailing rate of wages is exceptionally low as compared with that in other employments. After, a Trade Board has fixed a minimum rate for any trade, but before it hjjs been made, obligatory by the Board of Trade, employers may voluntarily agree to be bound by it. A "White List" of employers doing so shall be kept by the Board of Trade, and be open to public inspection, and no contract shall be given by Government departments or local authorities to any employer whose name is not on. this register. The Trade iJoards shall be composed of representatives of employers and of workers in equal proportion, and of not more than three official members appointed by the Board of Trade. In tho case of a Trade Board for a trade in which women are largely employed at least one of the official members mustt be a, woman. Women are also eligible as *non-official members.

The seventh" anniversary celebration, of the V.M.C.A. will be held in tho Town Hall to-morrow evening, openiny at 5.30 with a Dutch tea, and continuing with a gymnastic display and pubjio demonstration, the latter beginning at lAS. The Mayor (Dr. Newman) will prcido in tho evening. Members of the United Building Society of Wellington arc reminded that an appropriation of J6IOOO, free of interest, will be gffprad far i*!e *\fe 8 w'aiosk thi« eyonlnjr -<s* tbfl .CKibsab.or of Commerce