BRITAIN'S FISCAL POLICY.

Taranaki Daily News, Volume LI, Issue 88, 2 April 1908, Page 2

BRITAIN'S FISCAL POLICY.

PROPOSED BROADENING SYSTEM v OF TAXATION. OVERWHELMINGLY OPPOSED. COLONIAL PREFERENCE. ' ' Received Ist, 10.53 p.m. London, April 1. Mr, Mond's resolution in regard to fiscal matters was curried by 280 to 91. It affirms that any attempt to broaden the basis of taxation by placing small import duties on a large number of articles will be financially unsound, uneconomical, harmful to industry and commerce, likely to raise prices, and will tend to the imposition of high tariffs, as in protected countries.

Mr. Balfour ridiculed the phantom that an extravagant system of taxation was inevitable as the result of broadening the basis of luxation. The only course open was to increase the number of Customs duties, which was desirable on financial grounds alone, and doubly welcome if it afforded a change in making arrangements with the colonies, which would, he. said, "strengthen the Empire, increase, our manufacturing powers, and enlarge our .markets beyond the seas.''

Mr. Runeiman declared that Mr. Balfour was committed to a general tariff. Mr. Balfour explained that ho only was committed to a very wide extension of the basis of taxation.

Mr. Runeiman insisted that Mr. Balfour was committed to colonial preference, and, through that, to taxes - oa food.