Hide Articles List

11 articles on this Page

BUDGET BULL'S-EYES,

News
Cite
Share

BUDGET BULL'S-EYES, ("FROM THE BUDGET LEAGUE.) The Parliamentary debates on the Bud- $?!t will begin again on Monday next, and -■&he consideration of the bill will proceed ■fyom day to day until it passes the House ,M, Commons. There will be no slackening :&nd no surrender, but there will be reason- I able concessions and fair consideration of Jvêry real grievance. has been the record during the ),ag.t fomight of Parliamentary rest? One ■ £ > £ the most remarkable uprisings that has 'H' Jnken place in this country outside a • .1 Election. July is generally re- carded as a "close season" for public n>t>» but during this month hundreds > £ meetings have been held in every part of fthe country—meetings large and meetings dttnall-^meetings in the towns and meetings lf the .country villages on behalf of the I There has rarely in our time been a striking manifestation of popular (d.nthuiasm.. .What is there on the other side? The yarrow, clogged opposition of a small class, ied. by all their myrmidons, profes- iØfl.aj .and otherwise, to taxes which are sssifcsfi from them in order to meet the very "Expenditure for which they have clamoured. class was ready enough to ask for the dreadnoughts, but they are not very quick pay for them. What has happened to alter their tone?" asked Mr. at Limehouse. Simply that faave sent in the bill." It is an event t'^hich causes surprising changes in the )Voint of view. 'This small class that opposes the Bud- would be absolutely insignificant but ;for .one fact. They are in possession of the ;Ho«|isrr '& Lords. They form a majority •atWre, and that majority owns one-fifth of ••ijtihe land of England. The interval has t?-ell full of their vapourings and threaten- Itngs. Ti-treatei-iiiigs which have come 'from such various persons as Lord Lans- «4owne, Lord Curzon, Lord Onslow, the "Ðuk of Marlborough, and the Duke of Devonshire. The House of Lords, we are Sttvld. by these gentlemen, is going to do its r'stwjfj. Knowing full well how they inter- >i:it.et that sacred word, the country is in no ignorance as to what these threats signify. rLet there be no mistake. As at present ad- House of Lords intend to hang (he Budget until the Land Clauses are stropped, With that situation the Government "Will deal when the time comes; but now, ''»1 the eve of entering into this new discus- let us briefly review the position of itlus Bndyet Bill at the present moment. There are three Land Values Taxes pro- #p«ed in the Budget Bill—the Increment the Reversion Tax, and the, Unde- Nvflopt.,4 Land Tax. The Tiicrei-tent Tax r,res to take one-fifth of the increni-ent. ^a* is created on land after April 1909- The tax is not to be retrospec- ancj site value of the land in 1909, is to be taken as the normal j oasal line. The land is to be franked up that value, and increment is to be | d4sr9ed only upon increases that take t n'1Ace owing to social causes. If the im- [Jhrovenient is due to the owner's own indus- r. He will not be taxed. If it is due Agricultural causes he will not betaxd. will only be taxed if it is due to the •^efceased value of the land produced by jf** growth of cities and. the demand for wttildlng sites. < That tax has. now. passed through Com- K$Mittee, and during that stage several im- #(«tant alterations have been made which -111.. make it fall even more lightly. In the place, all agricultural increment is exempted. In the second, no occupy- ing owner of a "small holding" in the or of a small freehold in the town pay any increment tax. A "small f! v nS" will be a holding of the total "j'alue of £ 500, and a town freehold will weait a freehold under £ 40 in London, vjWlaer E26 in the big towns, and under £ 16 51,1 nixal districts. # • So tw-ach. for the small holder, but there °^er concessions for the ordinary *ttttdowner; the chief of those is that 10 per > feitt. of all increment is to be freed from duty. In, other words, the tax If* n°t fall on increments which are a *a*r re^urn *or 'invented money, abatement of 10 per cent. will act as graduation on the increment tax. The increment up to £ 200 will be let • ^26, or the owner of increment up to 42,00 wílt, be let off ,£200, and so on. *< t .j.y, there are two small concessions imPorltiance. There is the case of ^ave bought land during the ili years at a higher price thai! 1 SiL whicl* it commands today. In those • Ifu"* ori^iual site value will be sub- .u«te4 for the^ site value of to-day. Then J;fTe #the,possible case of land that «*»» increin^nt and then loses ii>—sold A rise this year, perhaps, and sold tn n on a los&.ten years hence. That land s Illy rise again, in value, and fehe incre- 1 may be restored. Is that increment be taxed twice? No, it, is to be franked V11i^ Paid 'duty, and increment is "|Ji*y "e charged when it rises above the *1 01 the previous tide. .i. on reversion duty, as on incre- • -,t7> agricultural land has been an^ f°r all the duties the State pay for the valuation.. j* rnuch for the concessions made up to ^resen^ date. Doubtless, the conces- f i! x11 Undeveloped Land Duty will *;ff as .generous. Such being the state 'fa airs' can there be .any justification illtf °l ^arshnesB in the paps in l- j taxes? On th« contrary, we •68Tee wilii the Prime Mini- *eta.inB ixe. *aJB thm Mt. Llo^d-George itUj- a almost too ooea to the the o^her side.

I ' A NEW CRUSOE.

I"WHAT IS WHISKY?"I

BURGLAR MOTORISTS. ;

:RACE AGAINST THE rIDE.

Advertising

!TRAIN AND TRAM SMASH. t.

[No title]

PALB Facks..

J IfEClPES. : ■<

|FUN AND FANCY.