BRITISH FINANCE BILL

Taranaki Daily News, Volume LII, Issue 104, 31 May 1909, Page 2

BRITISH FINANCE BILL

A C'OMI'LEX .MEASURE. ALTERATION Ul' THE LAND TENURE. Received Jlu.y 3U, 4.30 jmii. Loudon, May 30, The Finance Hill oeetijiii-s 02 pages and contains 74 clauses. 'J'liere arc two or three concessions, ami others wi'l probably be inserted in committee. The ilill allows for decrements, without mentioning a scale, also deductions in increments on valuations for buildin!?s on land and goodwill and agricultural improvements, Reversionary duties do not apply to leases below 21 years, ami there is no duty for umlevelopment or public parks nor domestic gardens of less than one acre. Reduction is allowed for site value increases by the owner. The Bill slightly alters the original proposal regarding hotel licenses, basing Uncharges on liquor sales instead of making licenses equal to half the rent. The duties on petrol and motor ears is not altered, and there is no cnaoc;" in response to the protests of bankers and merchants regarding the proposed fine of £SO daily against persons failing to make income returns for the supertax. Clubs have, to make annual returns of liquor sold, on which imposts will be based. Critics consider the working so complex that its adaptation will be left to a statt of permanent otfiomls. The land clauses amount to alteration of the whole system of land tenure, and may ipossibly' induce the House of Lords, to demand a separate Laud Bill.

INCREMENT REVERSIONS. Received Mav 30, 4.43 p.m. London, May 30. The Council of the Surveyors' Institution IW9 issued an important memorandum against the methods of making Increment reversions oft uncovered buildings land and" undeveloped mineral land, and their effect upon enterprise and thrift.