Great Britain.

Stratford Evening Post, Volume XXX, Issue 3, 6 April 1916, Page 5

Great Britain.

.THE BRITISH BUDGET. FURTHER PARTICULARS. 1 r„»«• Lomlon April ■!. Mr McKenna continuing, said:—An additional one penny per pound duty will.bo fixed on sugar, yielding seven millions. Cocoa, coffee, and chicory a;o to he increased to sixpence a pound, producing two millions; matches to 8s (id per 10,000 matches ; mineral waters fourponce per gallon', yielding two millions. It is proposed to double the present duty on motor-cars up to 18 horsepower, and treble on the higher-power-ed cars and motor-cycles not exceeding four horse-power. This is equal to two guineas on the higher-powered machines. The duty on motor-cars and motor-cycles will realise £BOO,OOO. The excess profit tax will be increased to (50 per cent. Summing up, Mr McKenna said ho calculated that by March, 1917, he would have required to meet in an ordinary year £388,000,000. Our permanent revenue was £423,000,000, leaving a surplus after another year of war of £85,000,000. When peace came England would have a margin for the remission of taxation. Civic courage was as important as* military' courage, and we might justly claim that we are not found wanting in these virtues.

Mr McKenna explained that the reason that the yield from the excess war profits tax was so small Was due to the delay in passing the Finance Bill. Ho added that the manner in which the British credit had withstood the immense claims upon it was truly wonderful to those unfamiliar with our financial methods and resources. An ex-, animation shows that we have not borrowed a pound without providing new taxation to cover interest and provide a liberal sinking fund. Mr William O’Brien protested against Ireland’s inclusion in the Budget; she could not bear the burdens of indefensible taxation.

’ Mr Barnes thought that the new duties would press severely on the poorer classes, especially the railway tickets. The House passed a resolution authorising the collection of duties according to all Mr McKenna’s proposals. There is general approval of Mr McKenna’s announcement that the excess profits tax will ho extended to the sales of profit-producing assets, thus securing to the Exchequer a share o( the profits on %ales of steamships. Some which cost £30,000 are now selling at £200,000. » reform, the newspapers *isgrc| th'at .the Government is neglecting the opportunity of imposing a protective tariff with preference to the Dominions and Allies. » shortage: of tin. 1 London, April 4. Jam, tinned meat, condensed milk, and other industries using .tin plates, are seriously threatened owing to tne shortage, which is due to the Ministry of Munitions’ demands upon the manufacturers for steel and the restriction on the output of tin plates that are required for war purposes, for which manufacturers must give a certificate. The existing dema'nd largely exceeds the supply, which will be curtained a further 30 per cent, this mouth. The quotation is 32s 3d a box as compaied with 13s 9d before the war.