London vii Bombay, 20th April.
The Budget shows a deficit of £5,415,000.
The estimated revenue for the coming year is £139,060,000, and the expenditure £143,880,000.
The Chancellor of the Exchequer refuses to suspend the Sinking Fund. He proposes to realise £1,000,000° worth of unclaimed stock; to add one penny to the income tax; twopence to the duty on tea; to put an additional sixpence on cigars anda shilling on cigarettes; and to impose a new rate of three shillings and threepence upon tobacco stripped before importation. He raises the moisture limit on tobacco to 32, and introduces small drawbacks which he hopes will increase the British export of tobacco.
It is anticipated that £5,500,000 will be raised from these -duties, £2,000,000 from the increase in the income tax, "ud £2,000,000 from the increase of twopence i the tea duty.
Sugar is not touched.—Reuler. Later.
The resolution to increase the tea duty was adopted after an amendment moved by Mr. T. Lough (W. Islington) in favour of making it sixpence had been rejected by 265 to 193. The increase in the tobacco duty was adopted by 200 to 106.
The papers generally receive the Budget in the most favourable way, but the Conservative organs simultaneously insist upon the urgent necessity of reducing the national expenditure, especially in view of the high income tax. The
the increased duty on tea.—Reuter. London, 20th April.
Opinion in parliamentary' circles is unanimous in condemning the increase in the tea duty—Ezalusive service.
Text read from the printed page and cleaned; old type leaves the occasional error.