BRITISH PARLIAMENT.

Taranaki Herald, Volume LV, Issue 13948, 1 May 1909, Page 3

BRITISH PARLIAMENT.

MR. LLOYD-CEORGE SPEAKS FOR OVER FOUR HOURS.

TEMPERANCE AND FINANCE

THE WEW.THY TO COVF.H Till' DEFICIT.

By Electric Telegraph.— Copyright. LONDON. April 31). There was a crowded ho-w. e\cent in -the strangers' gallery. >n I !<"<'- <ieorgo, Chancellor of the K\chei|iij i Hpoko for four arid a half hour*. H< claimed in regard to the in. i<aM<l «-xpenditure that it had been siibst-nti-ally increased with the unaiinnons ;■- sent of all parties. The growth of temperance added considerably to the iinaneinl difticulties They had to find £16,000.000. «lmli would leave a surplus of £-188.000. He proposed to meet the deficiency by reducing *c contribution to the sinking tnnd by three millions; by an income tax proposed to be levied on earm c! incomes l>elow £2000. which would remain at n>"eP Pll^ "P to £3000 a shilling, and above €3000 fourteenpence, with a further /"P"-** 1 of siTnenoo on incomes over £.)UIK). . The income, tax changes would vteid three- and a half millions, and it was expected that the super-tax in the tollowing year would alone yield £2.300,000. based on the »™°" nt J^ which the income exceeds £3000 Tloe sum of £2,830.000 would be raised by a revision of estate duties, nnd tftiO.OLO by the increase of stamp duties on share transactions. .„ , Motors would be taxed from 40s to 40 "iiineas, according to horse-power docFors' cars paying half taxes and motor cveles £1. Prtrol would be taxed threepence a gallon, with a rebate ol i halfpenny to commercial ears. Rl'noi ?axps would yield tooo.non. ,„ would be spent in the mn-rowm. m <.i r °The Budget propo S es that the State capital value of nndovolop^ land »ml ungotten minerals; also a JwWp""^ the pound on numnp; royalties.; also U) per cent! reversion, duty on honef.tncrruing at termination of a lease Lniul taxes were estimated to produce half n "Continuing, Mr. Lloyd-George estimated that » ™™*s° o iv* h T"Zu pound on manufactured tobacco would yTeld £1,900,000; ".J"^,? 1 %$\ i crallon on spirits would J" 1 11" 1 £1,6W),000 ; a revision of liquor censer, and a uniform Percentage on tjo^n nnal value would P«^J S ;w*Ti o nreservhie existing benefit socieius. BSTlSpoaed next year to give penof the Dreadnoughts w ould faU cm next year if the contingents were built, iftc ■arv provision for the navy next year Mpafiile. without having to resort to the Vicious expedient of a loan. Incomes under £500 would beRMt. Ed an abatement of £10 per child for the chttdren -under N l^ N Mr. Austen Chamberlain . said the BtJdget was so detailed that ™ d ££ criticism was impossible. « "Wj* serve the purposes of an electoralmaniSto but it would take three- Parliaments to Pass the !■»**« «§«3[ for its jfull achievements. Bonds and other securities transferable i by^^ delivery were to be raised from 10s to 20s Lr cent, of the nominal value, but Cafissued by colonial Government* would remain A W+*m>J*c»gThe Times opines that the stamp duties will operate very d»fs dvftn^ a ff ouslv to. bankers, who would be paraIvsed with respect to raised colonial md corporal loans and such loanr may be expected to be obtained by New. York bankers »« ™J ure .- , .. o Mr John Redmond, leader of the Wh' Party, opposed particularly the SP The House agreed upon the spirits, tobacco, and petrol duties by 281 vote* Lobby opinion emphasises the vast complexity which characterises these several Budgets m one. The Radicals believe that Mr. LloydGeorge has under-estimated the re venue derivable from the new taxes, and consider the next Budget maj show an* unexpected surplus. The Times says tho deficit is to .w covered at the cost of the wealthy'anc"fairly well-to-do. Tho doctrine of socia ransom has never been carried qmU *°The" Daily Mail says that the plundering of the middle classes B hows that Free Trade finance has hopeless!; broken down. , The Standard considers that the Ministers who flung away vast r& ' venues on coal, sugar, and tea are now without the courage to recant. The Manchester Guardian: "Mr. Lloyd-George has vjnd.icsitecl the elasticity of' Free Tfade' finance." The Chronicle says it is a bold Budpet, but that a bad speech weaned thr Commons. Mr. Lloyd-George was sr anxious to sketch the future development of the Liberal policy that it became a political manifesto.