THE BUDGET.

Ashburton Guardian, Volume V, Issue 1540, 23 April 1887, Page 3

THE BUDGET.

[rBUTBR's TELEGRAMS'— COPYRIGHT.] (Received April 22, 10 20 p.m.) London, April 22

The Bight Hon Mr Gosohen. Chancellor of the Exchequer, delivered his Budget statement m the House of Commons to-day. He innounoed that the surplus from last year Was 776,000; the estimated .revenue for the anrrent year £91,155,000 and the estimated expenditure £90,180,000. By various changes m the stamp duties, by taking debentures m a similar way to preference and ordinary shares, and by remodelling the system of redemption of the National Debt, the Chancellor obtained an estimated surplus of £2,700,000. The income tax is to be reduced by one penny (from 8d to 7d), the duty on tobacco to be reduced by 4d per pound, and a slight reduction to be made m the tax on marine insurance policies. By these redactions the estimated surplus would be reduoed to £300,000. The Treasury will pay off the credit of eleven millions this year, and remove local loans from the Budget, at the Bame time creating special stock to the amount of £37,000,000 for local loans. Mr Gosohen expressed the hope that large reduotiona would be effected m naval charges, eßpeoially m ship building next year. He Concluded by stating there were strong evidences that trade m the United Kingdom \rould greatly improve.

(Received April 23, 2.45 p.m )

London, April 22

In the Budget statement yesterday Mr Goschen announced that the fixed amount of charge for interest on the National Debt Would be reduced by two millions sterling.