BURDEN ON THE FEW

Dominion, Volume 2, Issue 509, 17 May 1909, Page 5

BURDEN ON THE FEW

NEW TAXES. A PROTEST BY BANKERS. THE DRIVING. OI<" CAPITAL ABROAD, (BY TSI.EOBiPH-r-rBKSS ASSOCIATION—COPVItIaHT.) (Rec. May JQ, 4,80 p.m.) London, May 15. Lord Aldenham (partner in Antony Gibbs nnd Sons, London) declares that tho Hudgct will tojid io diivo capital abroad. It is most undesirable that the majoiity of tho peoplo should pay no taxes, and thnt, commanding the bulk of t))e representation, they should bp oncouraged to put the whole burdon qn t)io fow. i DEATH P.UTIES A TAK ON qA N P»TAU ' SINKING FUND, (Rcc, May 5-0, 4..J5 p.m.) Londpn, May 15. Thirty-fivo leading bankorp and mnrchants, including Lord Goschen, Lord Avobury, tho Rothschilds, Hutlis, Antony Gibbs, C. J. H-ambro and Son, Glyns, Morgans, and Sir •Thos, SulJicrland, have qddressed tq tho Prinie Minister, Mr. Asquith, a protest against many of tho Government's financial proposals. They cqnsjdcr that tho proposed dealing wjt}i fch,o old sillying fund IB a dangoroue innovation, and that it will inevitably tempt a Government to under-estimate the revermo and over-estimate the expenditure. The signatories rcaliso tho necessity of increased taxation, but are alarmed at tho increasing disproportion of tho burden placed on a nunierjeally s.niall class of the community. Tlioy argue that the great increase in the doath duties and income tax wil] provo seriously injurious to commons© and, indnstries, TJio death duties are really paid, out of capital, and therefore there is a danger of capital being reduced below tho point necessary to the £nujo in lyhjch it ig employed. ' The prosperity of alj plashes being greatly duo to tibo fact tha,t tho country has afforded indisputable safety to capital, the signatories would deeply rcgrot if ibis conviction ivcro in any way weakened. REVENUE KRQfW SPIRIT PUTJpS. CIGAR INDUSTRY. ( London, M«y 14. Mr. Lloyd-George, Chancellor of tho Exchequer, estimates the total annual produce of tjio additional spirit tax at £9,221,216, of which £4,639,033 will be derived from Sootland. Ho is daily receiving deputations to protest against the Budget. Cigar-malfOfs complain that tho roduction in tho size of English cigars will necessitate new monlds, which are only obtainable in Germany. It will fcko three' to pb-, tain them. [Mr. Lloyd-George in his Budget speech estjr mated the inorease from spirit duties at JCI,000,000, and the additional sum from license duties at .£2,600,000. It has been alleged that ho under-estimated tho oipectec) increase in order to show a substantial surplus.]