BRITISH POLITICS.

Gisborne Times, Volume XXII, Issue 1739, 3 May 1906, Page 2

BRITISH POLITICS.

THE BUDGET.

By telegraph, I’res* Asa’u, Copyrlgh' Lin ion, May 1.

Mr EL H Asquith, Obunoollor of tho Exchequer, delivered his Budgot Bpeeoh to-day. Tbo actual rovonuo was £143,978,000, and tho oxpondituro £140,512.000, tbo surplus being £3,466,000, which passed automatically to tho roduciion of tbo national debt.

Tho ovorsoa trado during tho last financial your is described nB unparallolod. Empl'yment was perceptibly improving, l'horo was a stoady and progressive diminution in tbo consumption of drink, tbo rovonuo amounting to £607,000, which is attributable to the growth of temperance and the increased power of competitive attraotioos. The Obaooellor doprroatod tho iateroeption of oormaiked imperial taxes for looal purposes. Tho revenue for noxt year is estimated at JEI4-1.860.000, while thero is set down for expenditure on Imperial acoount £141,786,000, or, including local contributions, £161,621,000. Allowing £411,006 for contingencies, tboro would bo left disposable a balanoe of £2 660,000. Mr Asquith, continuing, stated that he was doierminod to ODd tho praotioo of borrowing for military and naval works at the earlioat possible date. The total provision next year for reduction oi the national debt was £18,500,000, which included half a million from estimated surplus and half a million from Cbineso indemnity. Allowing for fresh borrowing for works, this would effect a reduction of the debt by £9,000,000.

It was intended to affot £IBI,OOO as education grants to East and West Ham. There would bo allotted to tho Poet Office £105,000 to secure greater postal and telegraph facilities. Toe abolition of the ooal duty would absorb this year one million, and two millions next year. The reduction of the tea duty would absorb £920,000. The reduotion on stripped tobacco would not involve an appreciable losb of revenue. He admitted it was impossible to justify a shilling income tax in times of peaee. Ho proposed to appoint a Select Committee to inquire into tho praolicability of its graduation and differentiation. He promised legislative action to facilitate the usa of ulcohol for industrial purposes, ani bring tbo manufacture of baß’s wines under excise supervision. Liberal nawspapers oonsider the. Budget Bound, but a Btop-gap one. Unionist papers describe it as humdrum. It is'expeoted the debate will be fiaished today, as the issuss are not seriously controversial. BUDGET RESOLUTIONS ADOPTED By telegraph, Pres* Aoa’n, Copyright Received 10 14 p.m., May 2, London, April 29,

Mr Asquith has announced that the reduotion of tea duty will begin on May 14th instead of July. The uiix : mam loss to the Treasury through the ohange will not exceed eighty thousand pounds. Replyiog to Mr Redmond, Mr Asquith promised shortly to carefully investigate tbo Snaecial relations cf Britain and Ireland.

Mr Balfour insisted that groat naval and militaty wo ks weio never oonstruoted oxcept by loan.

Mr Chamberlain considered that Mr Asquith had introduced virtually a Unionist Budget, since the surplus estimates aud deoision Io abolish the coal tax were theirs. The redcc'ion of the tea duty was insufficient benefit to oonEumers. He warned tho Government not to be too sanguine that they would escape unexpected calls, sinco disturbances in Natal and difficulties in Egypt loomed ahead. The Budget resolutions were passed, HOSTILE MOTION.

By telegraph, Press Ass’n, Copyrigh Received 10.14 p.m , May 2, LandoD, May 2. Mr Wyndham moves that the Education Bill be toad a second time six monthhence.