THE BUDGET PROPOSALS.

Poverty Bay Herald, Volume XXXVI, Issue 11854, 19 May 1909, Page 5

THE BUDGET PROPOSALS.

— ♦ INCOME TAX RESOLUTION ADOPTED. (Press Assn. — fly Telegraph— Copyright) LONDON, 'May 18. , The House of Commons lms adopted . the income tax resolution. L Mr Evelyn Cecil, M.l', for Aston Manor, emphasised the. bankets' letter. Mr Asquith, the Prime Minister, rej plied, citing admissions m the memorial r and statement that the signatories wore ■ prepared to bear their share of the increase of taxation. He arguvd that m . view of the«xtra burdens falling upon , liquor arid tobacco, the burdens proposed i upon .capital were not excessive. He was not aware of any other method of raising these burden^, more. 'equitably. Hg added that the French projected taxes, and the existing Prussian supertaxes were higher. Ho reviewed tho history- of the income tax. He declared that he, when Chancellor of the Exchequer,, remored most of the glaring anomolies . by distinguishing between earned arid unearned incomes, and ho now regarded the permanency tax absolutely with .an conscience. He. believed the tax capable of still wider , expansion m the event of emergency. (Received May 19, 8.15 a.m.) \ LOtfDOX, May 18. In the income tax debate, Merars Austen Chamberlain, Sonar,. Law. iind Prettyrrian, m the interests' especially of the younger men going to the colonies, vainly opposed the resolution withdrawing the abatements to ; tlibse not -ordi--1 narily resident m the United Kingdom. Mr. Lloyd George, Chancellor of the Exchequer, renliecl that these Serving tho Grown -abroad . were entitled, to abntomoutsl , These were allowed to residents m Britain, because the latter contributed indirect taxatiofu