YIELD FROM NEW TAXES.

Taranaki Daily News, 24 April 1918, Page 5

YIELD FROM NEW TAXES.

LUXURIES L'-NDKII TUUKE CLAISSIfc'. COMPARISON WITH GEUMANY'S POSITION. Received April 24, 12.15 am. London, April 23. The proposed increase in the spirit duty from 14s 9d to 30s per gallon would yield eleven millions. The proposed double beer duty to 50s per barrel would yield 15% millions, and raising the tobacco duty from.Gs 5d to Ss 2d per pound would yield eight million?, while matches being raised a farthing would yield £OOO,OOO. The proposed additional tax on sugar o£ lis 8d per hundredweight would yield £13,200,000, (Hid involved the raising of the price from 5%d to 7d por pouul. The proposed luxury iax ill twopence in. the shilling, a tax similar to that in France, was in three classes, the first being on luxury articlts such jewels, tiie second tax being on articles above a certain price, and the third a tax on luxury establishments. A select committee would draw up schedules dealing with Germany's financial position. Mr. Bonar Law said that Germany's daily expenditure was six and a quarter millions; her war debt was 8,200 millions, and Germany's new taxation aggregated 305 millions, compared with Britain's 744 millions. Germany's war debt would be 30G0 millions, and Germany's deficit would foe a minimum of 385 millions, and her new taxation would be insufficient to pay the interest on Germany's war debt. If our caso were the same, Britain would not be far from bankruptcy. Germany imposed no indirect taxation, beeauso the only classes winch liad any influence on the Government were tlio wealthy, whom tho Government was afraid to tax. The House of Commons agreed to the Budget resolutions. LARGELY INCREASED" EXPENDITURE. GREAT RISE IN TAXATION. Received April 23, 3 55 p.m. London, Apjil 22. The votes for the Army, Navy, Air Force, and Munitions in 1918-1!) were merely taken from, other estimates. Tho expenditure shows a large increase in various directions- Old age pensions were put down at £12.085,000. He announced that the luxury tax would bo twopence in the shilling: Received April 23, 5.10 p.m. London, April 22. The Budget raises 114 millions by new taxation, including a shilling advance in the income tax and super tax. Beer duties havo boon doubled, and the tobacco duty increased to Is 9d per pound. HOME RULE BILL. London, April 22. It is expected that the Governmeut will introduce the .Home Rule Bill at the end of next week. It will be pressed with the utmost urgency. The opinion grows that a way out of the impasse will possibly be found by permitting the Dublin Parliament to initiate the methods most acceptable to the Irish people for increasing the army without conceding authority over the navy and army.