The Sun.
London, England, 1853-05-03 00:00:00

INCOME TAX.

Mr. PACKE wished to ask the Chancellor of the
Exchequer, having his assurance that the income tax
shall cease at the end of seven years, whether he will
have any objection to give an option to compound for
the future payment of the tax, by a payment in one sum,
or by instalments.
The CHANCELLOR of ' the EXCHEQUER was
quite willing to take the matter into consideration, but,
at the same time, looking at the long period the tax
would have to run, there would be considerable diffi-
culty in meeting such a proposal, and therefore his an-
swer must not be viewed in the light of a pledge.
MISCELLANEOUS ESTIMATES.
Mr. SPOONER wished to know if it was intended
to take the miscellaneous estimates before the budgei
was disposed of.
Lord J. RUSSELL replied in the negative.
Sir W. CLAY would be glad to know if it was the
intention of the noble lord to carry out his original pro-
mise of granting Thursday evening to the hon, member
who wished to submit a motion to the house on the sub-
ject of church rates ?

Lord J. RUSSELL said it was.
LEGACY DUTY.

In reply to Lord A. VANE,
The CHANCELLOR of the EXCHEQUER said no
distinction would be made in extending the legacy duties
between property under settlement and property under
trust. Property under settlement would nave no pre.
ference whatever. (Hear.)
THE BUDGET—ADJOURNED DEBATE.

The house then went into committee of ways and means,
and the adjourned debate on the budget was resumed by
Sir W. CLAY, who said that the financial mea-
sures of the Government had his entire and
hearty approval. He believed that their rejec-
tion by the house would occasion disappointment
not only in the metropolis, but throughout all the great
towns in the kingdom. In his opinion they were wise
and prudent, as well as bold and comprehensive,
and in addition to giving an important and im-
mediate relief in regard to taxation, they held out the
prospect of laying a safe and solid foundation for our
fiscal system, The Government financial scheme was
built mainly on the propositions of the Chancellor of
the Exchequer as to the income and property tax, and if
they were rejected, that scheme must be altogether aban-
doned. The hon. hart. entered into the discussion of the
various arguments used against the extension of the in-
come tax to Ireland, contending that those arguments
had wholly failed in convincing him that the extension
of the tax combined with the remission of the Consoli-
dated Annuities was unjust to the people of that coun-
try. The main feature of the Government plan
connected with the income tax was its gradual and final
extinction. He considered it was impossible to expect
that the tax could at once be totally repealed. That
could only be done in two ways—either by the gra-
dual accumulation of the surplus revenue until
it exceeded the expenditure by the amount of the in-
come tax, or by substituting another tax ; and while he
believed the country would not assent to the first plan,
he considered that no minister would be found who
would venture to propose another tax as a substitute.
But by the gradual diminution of the tax, and by fixing
a period for its final extinction, the house had it within
its power to get rid of the tax altogether. He
thought the Chancellor of the Exchequer was quite
right in the course which he had taken,. bath in a
social and economical point of view. On the whole, he
thought that the budget was entitled to the approbation
of the country, and he should give it his cordial support.
oeKrna,ELLY opposed the resolutions before the
aohniodSutasiir Fathoused onil the ground that they formed part of a scheme
bwlel iburch
denswas
opnr ethe aanl tr
swa
di tyho
pn
pe
rwe,se
dn
laarngdeedd
,
interest ; because they sought to extend th s
se income
tax to Ireland, withoutany justification or any
political or other necessity ; and because they sought
to perpetuate, or continue for the unprecedented period
and
d 7
underyears twhheicinhcosmo
many etax, with all those
ine-
qualities which had brought discredit one intolerablethe L
classesof the people had suf.-
Legislature,
turefereidr.
Sir
FITZROY KELLY opposed the resolutions, be
cause they formed part of a scheme of taxation
uir
theprairegLanyt
with an enlarged and intolerable burden
tax was,
oppressed landed interest ; because the
without justification or political necessit
Yeeinxestuenrdr to
Ireland in time of peace, and with a finanCia7
hand ; because, without any ground, it WU prop:seud in
o