The Budgetestimate of expenditure for 1901 1s £187,602,000 sterling, whereof the war takes £60,000,000. The deficit is £55,000,000. The Budget adds twopence to the income tax; it imposes a duty of 4s. 2d. on refined sugar polarising above 98 per cent, including West Indian; the duty is to be diminished for raw sugar polarising below 98 per cent. A duty of 2s. is imposed on molasses and Is. 8d. on glucose. There is to be an export duty of a shilling a ton on coul.
The new taxes proposed will yield £11,000,000 per annum. The Chancellor of the Exchequer proposes to suspend the sinking fund, and borrow £60,000,000 by consols.
Tater.
Text read from the printed page and cleaned; old type leaves the occasional error.