THE IMPERIAL BUDGET.
(By Cable.) London, April 4. In the House of Commons this evening, the Right Hon. W, E. Gladstone, as Chancellor of the Exchequer, made his Budget Statement, in Committee of Ways and Means. Ho showed that the revenue for the past financial year amounted to L8i,0G2,5C3; and the expenditure to L 83,125,000. He estimates the revenue for the financial year just entered upon at L8G, 003,030, and the expenditure at L 51,687,500. He announced that the financial proposals of the Government included a reduction of the duty in foreign beers, the conversion of the national stock resulting in a reduction of the amount of same by L 6,000,000 in twenty years ; a gradual abolition of the plate duty ; adjustment of surplus of foreign spirits, and the adjustment of the legacy and probate duties. The result of these charges would be to still leave a surplus of L 300,000, but a reduction of one penny in the Income Tax, from sixpence to five pence in the LI, would be proposed, and the surplus would thus be converted into a deficit of L 273,000.
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Ashburton Guardian, Volume 2, Issue 312, 6 April 1881, Page 2
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185THE IMPERIAL BUDGET. Ashburton Guardian, Volume 2, Issue 312, 6 April 1881, Page 2
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