IMPERIAL POLITICS.

Temuka Leader, Issue 2648, 19 April 1894, Page 1

IMPERIAL POLITICS.

London, April 16. In the House of Commons to-night, Sir William Vernon Harcourt delivered the Budget Speech. He said that the revenue last year amounted to £91,133,000, and the expenditure to £91,310,000. The estimated expenditure for the coming year was £94,458,000, and included in this amount was the sum of £7,500,000, which would be required in connection with the Government programme for the increase in the Navy and for naval defences. The estimated revenue for the same period was £90,956,000. Sir William said that the charges under Mr Goschen’s naval Imperial defence scheme were set down at £5,745,000, and this amount it was proposed to liquidate by means of a new sinking fund, leaving a defic'tfor the year of £2,379,000. It was proposed to merge the death duties in an estate duty with uniform charges for rtkd and personal estate, gradual ad from 1 per cent, to 8 per pent., the latter charge being for the sums over £1,000,000. The Government would submit, proposal for the increase of the income tax by Id, with an exemption of £IOO on incomes under £SOO, and an exemption of £l6O on those under £4OO, It was also proposed to increase the duy on spirits by Od per gallon, and on beer Od per barrel. In the Budget Speech Sir William Vernon Harcourt said that the distress in America and Australia had disturbed trade with India, and that the labor troubles iu Groat Britain had induced linanciul difficulties. During the past year the quantity of beer passed through the Customs had been the largest on record, but the quantity of strong wino used was constantly diminishing, April 17.

The House of Commons sanctioned the increase iu the beer and spirit duties, representing a revenue cf £1,300,000.