IMPERIAL BUDGET.

Otago Daily Times, Issue 11402, 20 April 1899, Page 5

IMPERIAL BUDGET.

Press Association—By^ Telegraph—Copyright. LONDON, April 18. France, Spa-in, and Italy have protested against the extra taxation of their wines by Britain. ( The French exporters allege that by Britain's extra duties tho price of cheap wines will be increased by one-seventh and champagne liy one-eighteenth. Mr llarwood, M.l', for Billion, will probably move the exemption of wines of less than 30 per cent, proof spirit. April 19. (Received April, 20, at 0.55 a.m.) The proposed stamp duty of 5s is on £500 nominal value of any document representing colonial or foreign bonds, stock, or sharps not at present liable to duty. The tax' is payable on the first occasion on which the document is negotiated here. Once it is stumped, that will suffice for its lifetime. If it is at any time withdrawn and another exactly similar substituted, tho stamp charge will be reduced. Loan or capital debentures created under statuto or trust deed will b liable to 2s 7d duty. The mortgage duty and companies' capital duty have been increased from 2s1 to 5s per '£100; letters of allotment and renunciation under the value of £5, Id ; and over that amount, 6d. It is estimated that the new duties will yield £450,000. They become operative when the Financo ISill is passed. ('Received April 20, at 1 a.m.) Mr Hoga-n intends to ask Sir M. HicksBeach to limit the increased stamp taxation to foreign bonds only.