The Stratford Evening Post WITH WHICH IS INCORPORATED THE EGMONT SETTLER. FRIDAY, MAY 8, 1914. THE BRITISH BUDGET.

Stratford Evening Post, Volume XXXIX, Issue 15, 8 May 1914, Page 4

The Stratford Evening Post WITH WHICH IS INCORPORATED THE EGMONT SETTLER. FRIDAY, MAY 8, 1914. THE BRITISH BUDGET.

The messages received by cable a j few days ago with regard to the Brit- j ish Budget are startling from many; points of view. The fact that for the first time in history the Budget has exceeded two hundred millions sterling is in itself something to wonder at. For the current year nearly one quarter of the Imperial revenue—over fifty millions sterling—is required fertile Navy alone, and another twentyeight millions sterling for the Army. Public Debt charges will require no less than twenty-four millions ster-j ling, and it will bo thus soon that over half the total revenue will bo absorbed by these three great charges. Mr Lloyd George, as Chancellor of the j Exchequer, will require a further nine millions of money for the current year’s expenditure according to the estimates, and nearly the whole of this is to be raised by increased taxation. Death duties and the income tax (including the super-tax) are to help contribute their proportions of the greater amount required. Income tax collected by the British Treasury last year amounted to about forty-six millions which was just about the amount required for Naval expenditure, and it is presumed that the additions to the income tax with the super-tax should raise the fifty odd millions required for the current year to maintain Britain’s naval standard. Mr Lloyd George,'in dealing with the income tax, has placed no further burdens on incomes varying from £l6O to £IOOO, but beyond that sum the increases are substantial, and the graduations seam to b» fairly reasonable stud equitable But. for the

ever-present possibility of great industrial trouble, the general commercial aud trade outlook in Britain is bright enough and although such a vast sum as two hundred million pounds is required for expenditure there should he no difficulty whatever in raising this sura with no more than the usual amount of hardships being experienced. One cannot, however, help feeling that surely the time must be near at hand when the Nations will realise the enormous and crippling cost of naval and military services, and arrive at some sane agreement whereby much of this wasteful expenditure might be curtailed.