BRITISH BUDGET.
IMPERIAL PREFERENCE
EXCESS PROFITS TAX
FURTHER FIFTY MILLIONS,
(Received 8 a.m.) LONDON, April 30. The British Budget shows that the income tax is unchanged.
Mr Chamberlain said that the excess profits tax would be abolished as soon as possible. It would be forty per cent, this year, yielding fifty millions. Imperial preference will be based on existing duties. It will be onesixth on consumable commodities, apart from alcohol, and one-third on manufactures. • The principal preferential articles include tea, cocoa, sugar, tobacco, rum, and motor spirit. The reduced tea tax operates from the 2nd June. It is anticipated that the total loss of revenue will be £2,300,000. The estimated revenue for the current year is 653 millions and the expenditure 766 millions. It is expected that the increased duty on spirits will produce twentyone millions, and on beer thirty-one millions. A revision of land value duties is proposed.—A. and N.Z.
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https://paperspast.natlib.govt.nz/newspapers/NA19190502.2.27
Bibliographic details
Northern Advocate, 2 May 1919, Page 3
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151BRITISH BUDGET. Northern Advocate, 2 May 1919, Page 3
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