THE BRITISH BUDGET SPEECH.

Taranaki Daily News, Volume XXXXII, Issue 52, 7 March 1900, Page 3

THE BRITISH BUDGET SPEECH.

PROPOSAL TO BOHUOW THIRTY-FIVE i MILLIONS. [PEE PEESS ASSOCIATION.] (Received 7, 1.1(5 a.m.) London, March (5, In the House of Commons, th-; ltight Hon. Sir Michael Hicks-B;ach delivered his Budget Speech. Ha sail it was proposed to borrow thirty-five millions, whereof a war lorn would absorb thirty miliioa^; to add fourpence to the income-tax, fourponca to the duty on tobacco, sixpence on foreign cigars, twopence on tea, t>ixpence per gallon on f-pirics, and one shilling per b.xirel on beer, The Budget was applauded, and tLe roEoluiioLS agie id to. cucLVCi 7, 1 .;"5 a.m.) Lomjon, iuaroli 6. Sir Michael Hicks-Beach adhered to his statement made in October that the Transvaal had the capacity to bear a reasonable share of the expenditure, but in vwv of compensation due to loyalists in Natal for their loss, and the enormous .British expenditure, the Transvaal's capacity to bear the cost was a less important factor now, though still important. The chief consideration was Great Britain's promptitude in meeting the liabilitieSj which afforded foreign critics a proof of one earnestness of the work .wherein she was engaged. The expenditure this year, apart from the war, was only £110,500,000, showing a likely surplus of live and a-half millions. TJi« i sal deficit was seventeen and three-quarter millions, whereof ; eight were lomjior.v.'iiy eovewl b> I Exchequer bil's in i H.i.;, The yevn; wai-