IMPERIAL POLITICS.

Gisborne Times, Volume XXVI, Issue 2186, 9 May 1908, Page 3

IMPERIAL POLITICS.

INTRODUCTION OF BUDGET,

OLD AGE PENSIONS.

United Tress Association —Copyright LONDON, May 7. The Budget has been presented. The. estimated expenditure is £152,559,000, and estimated revenue £157,770,000. ill- Asquith .appropriates the realised surplus of £4,776,000 chiefly For old age pensions, beginning at over 70 years of ago at £26 per annum, ami a combined .ponsion for married couples of £39. Tho now taxes on sugar will bo reduced 0110half.

United Press Association—Copyright (Received May 9, 10.35 p.m.)

LONDON, May 8. Mr. Asquith said tho revenue in the past year was £156,538,000. Tho income tax yielded £1,150,000 abovo the estimate. Tho differentiation proved that besides being practicable it was smooth working, and imparted nil equality to a permanent tax. The national debt had been reduced by £18,030,000, and by tho end of 1908 it would bo reduced to £696,000,000, the samo figure ns-in 1888. Uiulor his predecessor, the reduction had been at the rate of £9,000,000 por year. Under the present Government there would be £15,500,000 of 'a reduction. The interest on tho debt amounted to nearly £1,125,000 per year, and it was all done out of taxation. The time was now approaching to slacken tho reduction and relievo tho taxpayers. He estimated tho expenditure would bo £152,869,000. Regarding old age pensions, the Treasury and not local authorities must pay the cost. Some discrimination was essential. It was proposed, with the exception of aliens and lunatics, -that those of seventy years Of age and upwards not actually in receipt of poor law relief and midisqunlified by a recent conviction for serious’crime, or by possession of an income of £26 per annum or upwards, or, in tho case of married couples of £39, should be entitled next January to 5s per week, except in tho case of married couples living together, where both were entitled to a pension. In that case a joint pension of 7s 6d would be given. It was assumed that the pensioners would not exceed 500,000, and the maximum cost would be £6,000,000. The cost of the pensions from January to March would bo £1,200,000. It was proposed to reduce tho duty on sugar by 2s 4d a hundred-weight or a farthing per lb. Mr. Austen Chamberlain thought the contributory compulsory scheme of pensions might have been framed with success. . United Press Association —Copyright (Received May 9, 1.2 a.m.) Mr Chaplin, in .complimenting Mr Asquith both as regards the scheme as Ilia lucidity in unfolding the Duelget, remarked that since Mr Gladstone’s great Budget lie kadi not heard so great an effort. Mr A. Henderson -was dissatisfied with the pensions scheme both as regards the age and the income limits. Mr John Burns stated that the receipt of 10s as a superannuation allowance from the trade fund would not disqualify a person for a pension. Mr Lloyd-George intimated that the Pensions (Bill provides for it being worked through the Post Office and local pension authority and the pension officer acting under the Excise Department. The usual resolutions were agreed to except the income tax resolution which will be discussed later. _ The 'Budget proposes no new taxation.

PORT OF LONDON BILL. VISCOUNT MOBLEY’S AFFIRMATION. United Press Association—Copyright LONDON, May 7. In the House of Commons, the Port qf London ißill was read a second time without division. _ .... , Viscount iMorley, on taking his seat in the House of Lords, read an affirmatjon. This is the. first time an affirmation has been made in the House of Lords. The affirmation was read somewhat inaudiibly, and it was supposed that Viscount Morley was taking the -usual oath. .