BRITISH POLITICS.

Wairarapa Age, Volume XXXII, Issue 9567, 13 August 1909, Page 5

BRITISH POLITICS.

THE BUDGET DEBATE. THE BURDEN CAST ON THE FEW. MR BALFOUR'S VIEWS. United Press Association— »y Telegrnj h Copyright. Received August 12, 8.20 a.m. LONDON, August 11. In the course of the Budget debate in the House of Commons, the Opposition speakers emphasised the Government's refusal to fulfil'its promise to respect existing contracts, inasmuch as it defeated an amendment which proposed to levy the tax on undeveloped land only after sale, lease, or transfer. Mr Balfour. Loader of the Opposition, urged that if a landowner refused a firm offer from a responsible buyer} there would be a solid basis to go upon, but it would be a basis for rating him upon the annual value of the sum refused, not for singling him out as a subject for an anomalous tax on capital. The ex-Premier added, vehemently: —"This is not a tax for getting money,but votes, because it is believed that the tax will affect only the few, leaving the many untouched." He added: "The Government is dealing the greatest blow ever aimed at our National traditions of finance." The Prime Minister (Mr Asquith) in reply emphasised the growth of the towns, and the increasing demand for building sites The clause dealing with the taxation of undeveloped land was adopted by 223 votes to 113. Tne Government has given. nrotice of an amendmen;, substituting a tax on mining royalties for the tax on ungottan minerals; also another providing that the valuation of land and buildings shall be at the expense of the State, with option to the owner to make a valuation.