IMPERIAL PARLIAMENT.

Otago Witness, Issue 2356, 20 April 1899, Page 17

IMPERIAL PARLIAMENT.

A SMALL SURPLUS. INCBEASE IN STAMP AND OTHER DUTIES. LONDON, April 13. The Evicted Tenants' Compulsory Reinstatement Bill, introduced in the House of Commons by Mr William O'Malley, member for Connemara, has been rejected by 197 to 69. Mr Gerald Balfour declared that the bill was an, attempt to whitewash the Plan of Campaign.

April 14. In the House of Commons Sir M. HicksBeach delivered his Budget speech. He said the past year's revenue had exceeded the expenditure by £186,000. He proposed to reduce the annual charge on the national debt by two millions, hence in the current year he would require £110,927,000, which was £640,000 in excess of the estimated revenue. The balance he proposed .to provide by a new stamp duty of 5s per £100 on foreign and colonial bonds, stocks, and shares when negotiated in Britain, and a mortgage duty of half a crown per £100 on loan capital and debentures under the statute. He., also proposed to make an increase in the import duty on wines. The total estimated increase from these sources was £870,000.

In the discussion which followed Mr Henry Fowler, a. member of the late Gladstone and Rosqbery Ministries, protested against tampering with the sinking fund and the prohibition of Australian wines.

Sir W. V. Harcourt protested against any repudiation of the country's obligations. It was one of the most disastrous proposals for repudiating the nation's bill, and was trashy finance.

Sir C. Dilke said that the wine duties would lead to Britain losing the favoured nation treatment.

Sir M. Hicks-Beach, in reply, ridiculed the idea of and said the colonial wine imports were infinitesimal, and the duty only meant a difference of a penny per bottle on wine. The House formally sanctioned the proposals. In his Budget speech Sir M. HicksBeach said he also proposed to increase the duty on .companies' capital from half a crown to 5s per £100 ; to impose a duty of 6d on. letters of allotment and renunciation ; 3s per gallon on still wine imported in bottle, and an extra 6d per gallon duty on other wines, including colonial. He showed that the value of the Suez Caniil shares held by the British Government had during two j-ears in- . creased by four minions, against an expenditure of one million in- the Soudan. The imposition of the increased wine duties is attributed to the action of France in disregarding British remonstrances in regard to her arbitrary actions in Madagascar. The Empire Trade League will send a deputation to Sir M. Hicks-Beach in support of the amendment moved by Sir Howard Vincent in favour of exempting colonial wines from the increased duties. April 15. A deputation is being formed to interview the Government and protest against the injustice of adding the same burden to cheap wines as to ports and sherries. They will also ask Parliament to make a concession where the strength is below 30. The Agents-general and the representatives of the colonial wine trade are concerting with a view to action.