All-Round Increase Is Announced from Sept. 1
Dublin, May 8.
Introducing Eire's £40.626,000 budget, Sean Thomas O'Kelly. Eireann Minister of Finance, in the Dail yesterday proposed to raise the Irish Free State income-tax from 6/6d. in the £1 to 7/6d. in the £1. The gap between revenue and expenditure was £7,765.000 and there was no chance of bridging it by normal means, Mr. O'Kelly told the Dail.
The Finance Minister also announced a tax of 50% on profits from Sept. 1 and an increased duty of 5/64. per pound on tobacco. as well as double duty on matches. Also to te increased is the duty on imported newspapers, and all internal newspapers would be taxed. Other increases are on postage rates for letters and postcards, and on petrol and cider, but no increase is contemplated in duties on beer and spirits. znd no purchase tax is envisaged.
A sum for the Supply Services and Central Fund to be met was estimated at £40.620.000, which is the highest in the history of the State. When capital sums have been deducted, the net expenditure was £39448,000.—
Reuter.
Text read from the printed page and cleaned; old type leaves the occasional error.