BRITISH PARLIAMENT.

Taranaki Daily News, Volume L, Issue 59, 20 April 1907, Page 3

BRITISH PARLIAMENT.

LATEST CABLE NEWS.

UNITED PBESS ASSOCIATlON IitECTBIC TJSLEfliiAPil.—COl'YEiailT.

tiie budget. SURPLUS AI'PLIED TO DEBT REDEMPTION'. London, Aj»ril 18. In the House of (.'ominous the Kiulit Hon. ]{. H. .Asijuitli, Cliumvllur of the hXi'heqiKT, delivered his Jhid-et. Jt l Showed thai the realised balance last year was !J.3,.'j:«.i):i, which had been implied to debt redemption. No change -a indirect taxation was proposed, it"wis : intended to abi.lWi tie; interception of . Imperial luxes lor local authorities aul also intended 10 di'ierentiate in favor of earned incomes if , m ,| cr c2l|o|) (() t extern oi threepence in the pound. PROUSfON FOR OLji AGIO PENSIONS DISPOSAL OF THE SURPLUS. Received lil.h, 10.11 p.,n. Ti London, A mil 1!). ini bV i 3 . [r : U K»Oi." delivero s Midget, spoke in congratulatory to ins regarding the trade of the United ngdom ami Hi, .producing countries oi t>le world, but emphasised it would 'c ""Wise to ireat each year's finance ...s though se.r-contained. He cnumeratcd_ various causes for the lowness in puce ot high-class securities, and contended that the country's credit remain(?l better than ever. lh o expediture ; unng C hc past year was £139,415,UU0. J lie surplus was mainly due t 0 the inciease in tiirce items—coin, estates' duties, and the Mint. There had been a leconl year m tea recei])ts, and those from alcohol mcrea-cc.. The estimated tevemie for the coming year was £l4415,000 (sic), and Uie expenditure £l4O - io t ,000. A grant of C 200,000 to necessitous schools would reduce the suroius to £3,233,000. (

Continuing, Mr Asijufth 3aid the Government regarded old age pensions as the most serious and urgent of all the demands of social reform. and hopeu and intended before the close of next session to lay firm foundations for pensions. incident!!}', he warned the country that 'there was no social refonn which would not be dearlv purchased at the sacrifice, of «-ee trade. A ninepenny tax earned on incomes would be collected promptly, and the loss o.f two millions would ue balanced by a gam on death duties, which would be increased in the ease of estates over £150,000, also a sligut super-tax on estates over a million . sterling. This would leave a nominal nucleus of two j and a quarter millions by 1908 for old ago pensions, with the prospect of economies and fresh sources of taxation increasing such nucleus.

The graduation of high incomes would be postponed. He added 'that instead of transferring to local authorities ten millions, including license duties, at the end of the present year out of the Exchequer, he would pay to.the authorities ten millions out of the consolidated fund, and be then at liberty in 190S to increase license duties for the benefit of the nation. It would also be possible to deal with taxation of motor cars. The increase in death duties was estimated at £GOO,OOO. After deducting two millions, there would ba left a dis" posable surplus of £1,833,000. He retains £330,000 for contingencies, and adds the balance /to a new sinking fund, making provision for debt to the extent of £29,500,0000. After a brief discussion, the usual resolution was passed. CRIMINAL APPEAL BILL. London, April 18. In the House of Commons the Right Hon. Lawson Walton, Attornev-General, introduced a Bill to establish a Court of Criminal Appeal, consisting of seven High Court Judges, who may allow or disallow an appeal on depositions and written statements submitted to them. The Court is empowered, if necessary, to take fresh evidence; also to give prisoners in straitened circumstances the assistance of counsel. PATENT DESIGNS BILL. London, April IS. The Patent, Design, Hill was read a second lime.in the j louse of Commons. A BYE-FLECTION. London, April 18. _ The bye-election f or ilelfast North to "fill the vacancy caused by the death of Sir Daniel Dixon resulted in the return ot Mr. George Clark (Unionist), who polled CO2l against 4191 lor Mr. IV. Walker (Labor).