BRITAIN'S FINANCES.

Wairarapa Age, Volume XXXII, Issue 10241, 18 May 1911, Page 6

BRITAIN'S FINANCES.

[ A SPLENDID SURPLUS. I " " United Press Association—By Electric Telegraph-—Copyright. (Received May 17, a.m.) LONDON, May 16. In the House of Commons, Mr Lloyd-George announced that the past two years had realised a surplus of £5j607,000. Everything except sugar and tea had exceeded estimates. Members of the House of Commons will receive £4OO yearly, this costing a quarter of a million annually, but no travelling expenses will be allowed. The cost of the Coronation will be £300,000. Old age pensions would cost 12| millions, this being an increase of Simillions. The whole cost of pensions will be borne by the State, thus releasing the Boards of Guardians. The only alterations proposed are in the direction of -a relief of taxations on coooa, the duties on which will be reduced by graduating the chocolate duty and abolishing the drawback, which will cost £45,000 yearly. Liqjior duties will be reduced at a cost of £50,000. • This will leave a surplus if £337,000, after devoting £2,300,000 to Ihe old sinking fund, £1,500.000 to the Development Act, and £1,500,000 to sanatoria. He, in three years, had reduced capital liabilities by £28,700,000,