Ten Years of Financial Administration a Speech Delivered in the House of Common
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His revenue will be 77, 270, 000/. , the deficit, accord- ing to this calculation, being only 94, 000/. I must re- mind the House that this expenditure includes about 3, 500, 000/. Applied to reduce the debt through the process of Terminable Annuities. Now, what I think the House is entitled to ask the Chancellor of the Ex- chequer is, Are we to increase taxation on account of this petty deficit of 94, 000/. Or 194, 000/. , or is it for the purpose of buying 600, 000/. Consols in the market? It... cannot be decently urged on the former 21 account ; is it not inconsistent with all the pledges, which have been given by him and others, that fresh taxation should be imposed to pay off debt ? To my mind, the only solution of the problem is that the Chancellor of the Exchequer, knowing from bitter ex- perience that his colleagues will exceed their estimates, that there are supplementary votes behind, and even then excesses to be voted next year, is now proposing to us an increase of taxation in order that the deficit thus occasioned may be provided for.
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You can find similar books in the "Read Also" column, or choose other free books by H C E Hugh Culling Eardley Chlders to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
His revenue will be 77, 270, 000/. , the deficit, accord- ing to this calculation, being only 94, 000/. I must re- mind the House that this expenditure includes about 3, 500, 000/. Applied to reduce the debt through the process of Terminable Annuities. Now, what I think the House is entitled to ask the Chancellor of the Ex- chequer is, Are we to increase taxation on account of this petty deficit of 94, 000/. Or 194, 000/. , or is it for the purpose of buying 600, 000/. Consols in the market? It... cannot be decently urged on the former 21 account ; is it not inconsistent with all the pledges, which have been given by him and others, that fresh taxation should be imposed to pay off debt ? To my mind, the only solution of the problem is that the Chancellor of the Exchequer, knowing from bitter ex- perience that his colleagues will exceed their estimates, that there are supplementary votes behind, and even then excesses to be voted next year, is now proposing to us an increase of taxation in order that the deficit thus occasioned may be provided for.
What to read after Ten Years of Financial Administration a Speech Delivered in the House of Common?
You can find similar books in the "Read Also" column, or choose other free books by H C E Hugh Culling Eardley Chlders to read onlineMoreLess
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