BRITISH BUDGET.

New Zealand Herald, Volume XLV, Issue 13766, 3 June 1908, Page 7

BRITISH BUDGET.

" MAD GAMBLE FOR VOTES/' I AN- OPPOSITION AMENDMENT. BROADENING TAXATION. B? Telegraph.— Association.— (Received June 2, 10.53 p.m.) London. June 2. ; The debate on the second reading of the Finance Bill opened in the House of Commons last evening. Mr. Laurence Hardy (Unionist member for Kent South) moved, " That, in view of the growing liabilities and the need for further reducing the burdens east on ratepayers for national purposes, the House regrets that no attempt is ! made to increase the revenue by : broadening the basis of taxation." Mr. Morrison Bell (Unionist member for Mid-Devon), in seconding the motion, described the Budget as a mad gamble for votes. . Mr. Sydney Buxton (PostmasterGeneral) asked how the author-of the amendment proposed to broaden taxation. Mr. Austen Chamberlain asked how the Government intended to face the increased expenditure of £10,000,000 in 1909. FISCAL REFORM. Mr. Lloyd-George (Chancellor of the Exchequer) replied that the real issue, was being shirked, doubtless at the instance, of Mr. Balfour, " that wily strategist," since it was so much better to leave the details of fiscal reform to a gramaphone. Continuing, Mr. Lloyd-George admitted that local taxation for general purposes was a serious matter and must be dealt with at the earliest opportunity, and the first step was a proper land valuation tax. . The incidence of local rates was, he complained, unjust, and he quoted a resolution of the 'Radical group of the German bloc, declaring that protection rendered all commodities dear. . The resolution added that as long as such a policy was maintained it was impossible to .improve .the financial position, and the resolution demanded a far-reaching scheme for the taxation of the moneyed class. TAXING THE RICH MAN. Mr. Lloyd-George proceeded to remark that Mr. Asquith had been criticised for suggesting that in 1909, after paying £41,000,000 off the debt, the sinking fund might be raided to some extent, but in Germany the sinking fund had been suspended and large sums borrowed to meet current expenditure. So much for protectionist finance. Regarding the amendment, a tax on manufactures would be unproductive for revenue purposes. "If you wish," he added, "to increase revenue by broadening taxation, - yon must tax the commodities the people —namely, food. We say place a tax, not on the poor, but on those who are rich enough to ; bear it."