BRITISH BUDGET.

Wanganui Herald, Volume XXXXV, Issue 13052, 21 April 1910, Page 5

BRITISH BUDGET.

STATEMENT BY THE CHANCELLOR. Press Association.—Telegraph.—Copyright. LONDON. April 20. In the House of Commons the Right Hon. Lloyd-George, Chancellor of Exchequer, stated that he realised there would be a deficit of £26,248,000. When the arrears were collected there would be a surplus of <£2,963,000. Had the Budget been passed in 1909 the surplus would have been .£4,200,000. The Land Tax arrears amounted to <£1.940,000 which, doubtless, would be collected. He hoped to collect another <£23,455,000 income tax, making the total actual loss £350,000 .The loss on stamps would be <£600,000. No country in the world, no other fiscal .system, could have emerged triumphantly from such a severe strain.

ORDER OF BUSINESS. Received April 21, 9.15 a.m. , LONDON, April 20. EarL Crewe, in the House of Lords, stated that the second reading of the Finance Bill would take .place on the 28th. There would be a three weeks’ recess, and the discussion of the veto resolutions would take place on the 24th and 25th of May when the next Bill would be published.' ’ Lord Rosebery’s resolutions might be discussed before the recess. CRITICISM BY THE TIMES. Received April 21, 10.0 a.m. LONDON, April 21. The Times states that Mr Lloyd-George estimates the loss on income tax at £350,000, and interest on borrowings at the same amount. The latter represents the price the country pays for the Government’s notion of dignity. It is probable tlie surplus will really amount to only a quarter of a< million, as Mr Lloyd-George is not justified iu counting in £2 700 000 taken from the sinking fund. ’ 1 LICENSING TRADE DUTIES. LONDON, April 21. At the last licensing sessions the trade paid two millions on duties, according to the Right Hon. Lloyd-George, another £2,100,000 in July, and four millions in October, but. according to the trade including October, 1909, and October, 1910 the total is nine millions. ’ ’ LORDS’ VETO. Straight-Out Fight Favoured. LONDON, April 21. Viscount St. Aldwyn, speaking at Londonderry, supported Lord Rosebery’s suggestion to fight the election on the. Lords issue alone. LORD ROSEBERY’S RESOLUTIONS. Received April 21, 10.0 a.m. LONDON, April 20. Lord Rosebery to-day announced the postponement of his resolutions to the first day after the recess.