The Sun.
London, England, 1842-03-15 00:00:00

INCOME TAX.

Lord BROUGIIAM having presented petitions from
the Lord I;rovost and Corporation of Glasgow, and from
the parish of St. James's, Westminster, against the
Corn-laws, said that he was about to give a notice for
to-morrow on a subject of the greatest importance.

Eiehad given notice io his Noble• Friend, the Presiden
Df the Board of Trade, to whose department the subjee
more immediately related, of the resolutions which to.
morrow it was his intention to submit to their Lordships.

He should not at present enter into discussion on the sub-
ject, but should confine himself to reading the resolutions
on which he to-Morrow proposed taking the sense of
their Lordships. He had been induced to adopt this
course-in consequence of what he had seen on the 'votes
of the other House of Parliament. In those votes and
the other documents laid before the House he perceived
present advised, he could
ae
which,
niraes aaptprobation, more especially
the outline of a very important financial plan, to the
live his
ipwaarrt
to;
to that part of it which referred to the great improve-
ment proposed in our commercial tariff.—(Hear, hear.)
He perceived by the votes that the duty on spirits had
been already agreed to, and that a part of that duty was
proposed to be confined to Ireland. From that he gathered
that it was the intention of her Majesty's Government
that the increased spirit duty should be confined to Ireland;
and he also thought from that circtimstanee,there were just
grounds for supposing that there was some foundation
for those reports which had generally gOne abroad, that it
was the intention of the Government 'to propose a tax
upon income ; he, therefore, proposed to call their Lord-
ships' attention to the subject, and to-morrow he should
submit to their Lordships the following resolutions :
His Lordship then read a series of resolutions to the fol-
lowing effect
" 1. That a direct tax upon income ought never to
be resorted to, unless in some great emergency of public
affairs, when an extraordinary expenditure may become
unavoidable for a time, or in some pressure upon the
finances of the country, which can be sustained by no
other means.
" 2. That such a tax ought, on no account, to form
part of the ordinary revenue of the State, but to cease
with the necessity which alone could justify its imposi-
tion—inasmuch as, besides all the other objections to
which-it-is liable, its inquisitorial operation being equally
vexatious whatever sums are levied, the facility of in-
creasing its amount according to the real or supposed
exigencies of the public service offers a constant tempta-
tion to extravagance on the part of the Government, re-
moving the most effectual check upon improvident et-
penditure, and dispensing
with the necessity of seeking
a revenue in retrenchment.
" 3. Thatialthough the actual deficiency in the revenue
to meet the expenditure,amounting to e
ncabove f
or
nextoo ,0001.
in five years, and the estimateyear,
amounting to above 2,500,0001.,
besides probable de-
affairs in the East,
mends arising from the state
may render the temporary recourse to an income tax
necessary, after an attempt to increase by l -20th the '
d dof deficiency
duties of Excise and Customs had ended in obtaining a
200th only, thereby proving the impossibility of draw-
ing any further revenue from increased taxes on con •
sumption, while the relief which may justly be expected
both to commerce and to finance, from lowering those
taxes, cannot be made immediately available, yet it.
' behoves the Parliament, as. faithful guardians of the
people's rights and interests, W take care that during
the temporary existence of this tax its pressure shall be
distributed in such a manner as shall make it most
easily and most patiently be borne.
" 4. That with this view it is first of all necessary
to satisfy the people that there shall be no invidious
exemptions, but that the highest personages in the State
shall be permitted to bear their due of a burden which
absolute neccessity alone could warrant the Parliament
to impose.
" 5. That with the same view it is expedient to make
a distinction between income arising from capital of
every description and income arising from labour,
merely by levying a smaller proportion on the latter
ineome.than the former.
"6. That with the same view it is expedient: to make a
distinction between income possessed by persons who
have only an interest in the same fur their lives, or for
some lesser term, and income possessed by persons who
have an interest in the capital whence the income- arises