THE BRITISH PARLIAMENT.

Marlborough Express, Volume XLIII, Issue 120, 19 May 1909, Page 4

THE BRITISH PARLIAMENT.

THE TAXATION PROPOSALS. THE BANKERS' PROTEST. [PBESB ASSOCIATION.! '' , * LONDON, May H. The Commons adopted the incjaie tax resolutions. Mr Evelyn Cecil, M.P., emphasised the need of modifications, in view of the bankers', letter of protest against the proposals. Mr Asquith replied, citing admissions made in the memorial of tho 1 bankers,'dnd the statement, that the signatories were ;prepared to bear their share of increase taxation. He argued that in view of • the extra burdens falling upon the liquor and tobacco industries the burdens proposed upon capital were not excessive. He was not aware of any othefir method of raising these burdens more equitably. He added that the French' projected taxes.and existing/Prussiatk super-taxes were higher. ■; - Mr Asquith, continuing, reviewed! the history' of the income tax, and' declared that -he, when Chancellor of the Exchequer, removed the nibst glaring anomalies, by distinguishing earned from unearned incomes, and he now regarded, the permanency of the tax as absolute with an untroubled conscience. ' He bcli'eved the tax was capable of still wider expansion in the event' of emergency. During the income tax debate Mr Prettyman, in the interests especially of younger men going to' the' Colonies, vainly opposed the 'resolution withdrawing, abatements to1 those not ordinarily resident in the UnitedKingdom. Mr Lloyd-George, in reply, said those serving the Crown abroad were entitled to abatements. These wero. allowed to residents in Britain because the latter contribute to indirect , taxation. ■ - ' • ■ ,