THE ENGLISH BUDGET.

Temuka Leader, Issue 1573, 26 April 1887, Page 1

THE ENGLISH BUDGET.

London, April 21. Mr Goschen, Chancellor of the Exchequer, delivered his Budget Statement in the House of Commons to-day. He announced that the surplus from last year was £776,000. He estimated the revenue for the current year at £91,155,000, and the expenditure at £90,180,000. By various changes in the stamp duties, by taxing debentures in a similar way to preference and ordinary shares, by remodelling the system of redemption of the National Debt, the Chancellor obtained an estimated surplus of £2,700,000, The income tax would be reduced by Id (from 8J to 7d), The duty on tobacco would be reduced by 4d per lb, and a

alight redaction would be made in the tax on marine insurance policies. By these reductions the estimated surplus would be reduced to £300,000. The Treasury will pay off a credit of £11,000,000 this year, and remove local loans from the Budget, at the same time creating special stock to the amount of £37,000,000 for local loans. Mr Gos Chen expressed a hope that large reductions would, be effected in naval charges, especially shipbuilding, next year, and concluded by stating there were strong evidences that trade in the Unite! Kingdom was greatly improving. April 22. The Budget shows nearly a, million and three-quarters surplus, which will be derived by the reduction of the 1 annual charge on the National Debt by two millions. Lord Randolph Churchill complains that no effective economy has been shown, The Budget is generally approved.