BRITAIN'S INCOME OF £1,045,000,000.

Dominion, Volume 6, Issue 1589, 5 November 1912, Page 8

BRITAIN'S INCOME OF £1,045,000,000.

INTERESTING itGUKES. According to tho Inland Revenue r«» : port issucx! onSoptemter 26, -the gros3 . income. of- tho United Kingdom; has riseii . to• .£1,045,833,775, an increase for tho year ... .in round figures'of,. but«part: - of this is: due to the delayed tax eollection.ld; 1808.-9' "tho. total .'was' £1,009,000,- .." 000, and in the following year two millions sterling greater. Fm 'the. first time the income derived; • , ■ from abroad has reached and passed Onfri ■ hundred millions sterling. The actual' total is £103,952,723 for 191M1. This iB an increase of £7,659,0C<) on tho preceding , year, . Five years back, 1006-7, .it' had .not reached eighty millions (.£79,560,116). It • must be remembered that these figures, aro income, not capital. The capital tliit . has gone abroad during the last five years. . is at least. i!i27>dOO,fl.OO';'' 1695-96, the total'income from abroad .was , under 55 millions. The collection of Mr. Lloyd-George's four •• duties on land values is shown by tbo report to be a disappointment. . -The four duties wero ; iposcd on inc-re- . ment value, .reversion, undeveloped iabd/ . and -miheral : .rights.. The? amount of duty paid under .the head of increment valua up to March 31 was only £6220, the number of' hereditaments 'involved, being 17. For tho. reversion, duty the amount re- ■ ceived wm,.£22,755,•the' ampunt. of . assessed being -£34,405, in 2535 accounts. Tho undeveloped land duty yielded for 190940.0n1y .for'the.'followirig. year ' £11,904; arid, for 1911-12, .£10,218. The number of assessments mads and the duty s assessed were: ■■ N0... ■ Duty. . 1909-10 20,865 . >023,775 "• 1910-11 20,440 .£29,328 1911-12 17,545, ,£25,247 . Horo is a total of £78,350 assessed which lias brought in £31,298. • .. ' The payments of mineral rights duty and the amount '.of. assessment 1 for . the. three years aro: '. ■ Assessed. Paid. . :■£'■'... ' £.' '' 1909-10 337,393 ,320,195 1910-11 336,523 321,911 1911-12 325,885 ;. 298,982 The number of persons assessed under profits from business, professions, and employments amounting to over 4150,000 has ; expanded to twenty-nine, the. number tlio preceding year being twenty-two, and tho • ' .firms M ~ ■■ seven to eighty. TJig. ' como assessed against employees (Schedule .• D) was £26,928,706,. the number of atvess- . ments being 112,172, or an average to each ' of . .£240. The Government is not yet able to furnish for any-..year complete, statistics 'of. Mr. Lloyd-Gcorgo's super-tax on "the very rich" which has now been in course of assessment .'and, obllection. for three years. • No duty was received during 1909-10. The number , .of .cases. actually,assossed -.."is now," the Blue Book states, 10,976, which may reach .11,250,. and the yield for tho : year so far has been .£2,575,000. For 1910il the'co.mmis'siohers.'.'h'ave received, .10,966 returns disclosing liability to .the : tax, the ~ .aggregate income, disclosed being £135,-. 739,172, on which tho, duty., exigible' nfter deduction of. the statutory abatement of £3000, was £2,571,029. ; " .! .;... . The net receipts in the three years (the first., froducing nothing) are given ai •£5,90.9,*733; against Budget estimates::,foi the three years totalling £6,250,000.