THE BRITISH BUDGET.

Taranaki Daily News, Volume LI, Issue 119, 11 May 1908, Page 2

THE BRITISH BUDGET.

I'RESS OPINIONS. London, May 8. Tht; Times remarks that the Budget marks au epoch in national polity. It declares that Mr. Asquith is reckless and improvident in disposing of tue whole surplus iu face of the admitted need for larger naval shipbuilding to keep pace with the development of the German Navy. Several newspapers comment 011 the absence of a sliding scale from the. old-age pension scheme. The result is that those with incomes under 10s receive a pension while those with an income just above that amount are deprived, though they contribute to the fund. The Daily .Mail emphasises that the age limit of seventy years appears too high with the present mortality returns. The workers are not likely to be satisfied. The Mail adds that the scheme cannot be final. The revenue of the future is heavily mortgaged, and tariff reform alone will make the Government able to discharge its obligations under the scheme. The Standard says the .Budget seals the doom of free trade. The Morning Post says free trade has played its part and must leave the stage. The Daily Chronicre describes the Budget as "the most reckless Budget of modern times." The Daily Chronicle says it is a great Budget. The keynote is .«ound iinanee and social reform. The Daily News says Air. Asquith has cleared and ploughed the rough ground. It will be Mr. Lloyd-George's task to draw from the ready furrows a full harvest of reform. The paper adds that a rapid expansion of pensions will be possible, the funds to come from a super tax on large unearned incomes and the taxation of site values. Received Oth, 4.2 p.m. London, Mar 0. The Spectator says the Budget discourages the working classes from making adequate provision for old age. So complicated, harassing, and unpopular is the pension scheme, declares the Spectator, that it will not last two years. Mr Asquith's Budget is unabashed Micaivberism. Such juggling is only a deferred payment bill, both as regards pensions and increased naval expenditure. Any succeeding Governmentwould be certain to have recourse to tarifi taxation, thus destroying free trade. ' 0 The Telegraph «ays the Budget is a huge evasion of an immense effort to deceive the nation. mile the cost of introducing a policy of stupendous weight would apparently cost onlv £1,200,000 for the first year, the second year would cost six millions, and ultimately nearly thirty millions.