BRITISH POLITICS.

Wairarapa Age, Volume XXX, Issue 8405, 20 April 1907, Page 5

BRITISH POLITICS.

THE BUDGET. Received April 19, 12.9 p.m. LONDON, April 19. In the House of Commons, Mr Aaquith, Chancellor of the Exchequer, delivered his Budget, which showed that he realised a balance last year of £5,399,000, which had been applied to redemption of the National Debt. No change in indirect taxation is proposed. It is intended to abolish the interception of Imperial taxes for local authorities. It is also intended to'differentiate in favour of earned incomes, if they are under £2,000, to the extent of threepence in the pound in income tax. MR ASQUITH'S SPEECH. Received April 19,- 10.11 p.m. LONDON, April 19. Mr Asquith, in delivering his Budget, spoke in congratulatory terms regarding the trade of the United Kingdom and the producing countries of the world, but emphasised that it would be unwise to treat each year's finance as though it was self-contained. The expenditure for the past year was £K: 9,415,000. The surplus was mr.inly due to an increase in three items, viz., coin, estates duties, and the mint. It had been a record year. The tea receipts and those from alcohol had increased. The National Debt received £1,371,400. The estimated revenue for the coming year was £14,418,000 (?)and the expenditure £140,757,000. The grant of £200,000 to necessitous schools would reduce the surplus to £3,233,000. The Government regarded the old-age pensions as the most serious and urgent of all demands of social reform, and hoped and intended before the close of next session to lay a firm foundation for pensions. Incidentally, he warned the country that there was no social reform which was not dearly purchased at a sacrifice of freetrade. The ninepenny tax earned on incomes would be collected promptly. The loss of two millions would be balanced by the gain in death duties which would-be increased in the cast of estates over £150,000. There would also be a slight super tax on estates over £1,000,000. This would leave a nominal neuclus of £2,250,000 by 1908 for old-age pensions, with a prospect of economies and fresh sources of taxation increasing such neuclus. The graduation of high incomes would be postponed on the ground that one charge for the officials to cope with in one year would suffice. He added that stead of transferring to the local authorities, £10,000,000, including the license duties, at the end of the present year, the Exchequer would pay the authorities £10,000,000 out of the consolidated fund. They would be then at liberty in 1908 to increase the license duties for the benefit of the nation. It would also be possible to deal with the taxation of motor cars. The increase in death duties was estimated at £600,000. After the deduction of £2,000,000 from £3,833,000 a disposable surplus of £1,833,000 was left. Three hundred and thirty-three thousand pounds would be retained for contingencies, and the balance would be added to the new sinking fund. After a brief discussion, the usual resolution was passed. AN IMPORTANT BILL. Received April 19, 5.7 a.m. LONDON, April IS. In the House uf Commons, Sir J. L. Walton, Attorney-General, introduced a Bill to establish a Court of ; Criminal Appeal, consisting of seven High Court Judges, who may allow or disallow an appeal on depositions and written statements submitted to them. The Cor.rt is empowered, if it is deemed necessary, to take fresh evidence, also to give prisoners in straitened circumstances the assistance of counsel.

A BY-ELECTION. Received April 19, 7.40 a.m. LONDON, April 18. The hy-election for Belfast North, to fill the vacancy caused by the death of Sir Daniel Dixon, Conservative, resulted:— Mr George Clark, Unionist ... 6,021 Mr W. Walker, Labour ... 4,194 (Belfast North has been a Conservative and Unionist seat for at least 25 years. The Labour candidate, Mr W. Walker, made the nearest recorded bid for it at the last general elections, when Sir Daniel Dixon, Conservative, led him by 291. Mr Clark's majority over Mr Walker io 1,827.) PATENTS BILL. Received April 19, 7.40 a.m. LONDON, April 18. The Patents and Designs Bill has been read in the House of Commons a second time. (Mr Lloyd-George, President of the Board of Trade, recently explained that his Patents Bill would compel holders of British patents to manufacture or work them in Great Britain, so that British industry may benefit).

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