The English Budget.

Feilding Star, Volume XV, Issue 291, 18 April 1894, Page 2

The English Budget.

INCREASE IN THE INCOME TAX. INCREASE OF BEER AND SPIRIT DUTIES. (PEB PEESB ASSOCIATION.) London, April 16. In the House of Commons to-night Sir W. V. Harcourt delivered the bud- '■■ get speech. He said the revenue last year amounted to £9 1 . 1 33,000 and the i expenditure to £91,310,000. The es- ; timated expenditure for the coining j year was £,95,458,000, and included 1 in this amount was a sum of £750,000 which w ould be required in connec tion with the Government programme for an increase in the navy and naval defences. The estimated revenue for the same period was £90,956,000. Sir William said tbe charges under Mr Goshen's naval Imperial defence scheme were set down at £5,745,000 and this amount it wns proposed to liquidate by means of a new sinking fund, leaving a deficit tor the year of £2,379,000. It was proposed to merge the death duties into one estate duty with uniform charges for real and personal estates, graduated from one to eight per cent, the latter cbarge being for sums over one million. Govern ment also proposed to submit a proposal for the increase of the income tax by one penny, with an exemption of £100 on incomes under £600, and on exemption of £ 1 60 on those under £400. It was also proposed to increase the duty on spiri ta by aix pence per gallon and on beer six pence per barrel. In the course of the Budget speech, Sir W. V. Harcourt said the distress in America and Australia had disturbed bhc bradv %rifch India, ami thai tbe labor troubles iv Great Britain had induced financial difficulties. During the past year, according to the Chancellor, the quantity of beer passed through the Customs was the largest on record, but the quantity of strong wine used was constantly diniiuiKhiug.