THE IMPERIAL BUDGET.

Gisborne Times, Volume XXVII, Issue 2503, 17 May 1909, Page 5

THE IMPERIAL BUDGET.

THE ADDITIONAL SPIRIT TAX.

CIGAR MAKERS” PROTEST

United Press Association—Copyright

LONDON, May 14

\ Mr Lloyd Goorgo, Chancellor of the estimates the total annual revenue produced from tlio additional spirit, tax will bo £29,224,245, whereof £4,593,083 will bo from Scotland. Mr Lloyd-George is daily receiving deputations to protest against the Budget. Cigarmakers complain that the reduction of the size of English cigars will necessitate new moulds, which are only obtainable in Germany, and that it will take three months to obtain them.

Lord Aklenham (of Antony Gibbs am

Son) declared that the Budget tends to drive capital abroad, and that it is most undesirable that the majority of the people who pay no taxes and command tho bulk of the representation should be encouraged to put the whole burden on a few.

A FINANCIERS’ PROTEST.

MEMORIAL TO MR. ASQUITH

(Received May 16, 4.45 p.m.)

LONDON

May 15

Thirty-five leading bankers and merchants, including Lords Goschen and Avebury, representatives of Rothschild’s, Huth’s, Antony Gibbs’, Hambros’, Glyn’s, and Morgan’s banks, and : .Sir Thomas Sutherland (chairman of the P. and 0. Company) presented an address to Mr Asquith, protesting against njany of the Government’s financial proposals. They consider tho proposed dealing with the old sinking fund a

dangerous innovation, which, it is in

evitable, will tempt a Government to funder- estimate revenue and over-esti-mate expenditure. The signatories

state that they realise the necessity for increased taxation, but are alarmed at the increasing disproportion of the burden placed on a numerically small class of the community, and the great increase in death dues, which are really r ',paid out of capital. Therefore, they state, there is danger of capital being reduced below tho point necessary to •the trade in which it is employed. The prosperity of all -classes being greatly •due to the fact that the country afforded indisputable safety to capital, the signatories would deeply regret if this eojiviction were m any way weakened.