THE ENGLISH BUDGET.
[press ASSOCIATION.]
London, March 27. Mr. Goschen's Budget has been submitted. The revenue for the past year was £89,559,000, and the expenditure £87,424,000. The surplus £2,165,000 is the largest since 1874. The estimated revenue for the coining year is £89,287,000, and the expenditure £86,910,000. _ Additional taxation is proposed, including an increase in the succession duties, the taxation of vehicles, race and pleasure horses, horse dealers, deed contracts, stamps, foreign securities, new companies, and new issues of shares, costly wines in bottle 5s per dozen—in all, amounting to £2,511,000. It is proposed to apply the surplus chiefly to subsidies to County Councils. A penny reduction in the income tax is proposed. Parliamentary sanction is promptly sought for the cost of the auxiliary fleet. It is proposed to apply the revenue from the Suez Canal shares to the fortification of coaling stations.
March 27. The wine duty proposed has been adopted, and Mr. Goschen retains the surplus of £212,000 in hand. Hie Press is favourable to the Budget proposals.
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New Zealand Herald, Volume XXV, Issue 9014, 29 March 1888, Page 5
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170THE ENGLISH BUDGET. New Zealand Herald, Volume XXV, Issue 9014, 29 March 1888, Page 5
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