§ The Report of the Committee of Ways and Means was brought up.
§ On the question that it be read,
§ Mr. Humesaid, that he wished to ask the noble Lord opposite a question with reference to the financial statement which the noble Lord made a few nights ago. The noble Lord, on that occasion, stated, that the amount of the House-tax was 1,100,000l., and last year, when the noble Lord proposed to make a considerable reduction in that tax, he said, that it produced to the revenue 1,250,000l. a year. This appeared to him to require some explanation.
§ Lord Althorpsaid, that last year he stated the House tax produced 1,400,000l., and not 1,250,000l., as was supposed by the hon. Member. He (Lord Althorp) took the reduction then made at 250,000l., although the actual reduction was only 240,000l. The present amount of the House-tax was nearly 1,170,000l.
§ Mr. Humeunderstood last year, that expectations were held out to the country, that the House-tax would be reduced 470,000l. or 500,000l. The people, from what was said by Government, expected relief to that amount. The explanation of the noble Lord appeared to him to be very surprising.
§ Lord Althorpsaid, that the hon. Member, on reflection, would recollect, that he (Lord Althorp) at first proposed a reduction to the amount of 100,000l., but, after a number of alterations had been made in his proposed arrangement, he admitted that the reductions would probably amount to 400,000l. The reduction, however, turned out to be, not 400,000l., but 250,000l.
§ Mr. Humeobserved, that the noble Lord, in his statement on Friday, took into calculation 800,000l. which would be required to pay the interest on the compensation-money to be given to the West-India proprietors. Now, he, (Mr. Hume) understood that the 800,000l. would not be paid until after the present year; he was, therefore, of opinion, that the country should have the benefit of it, and that the noble Lord should make a further reduction of taxes.
§ Lord Althorpsaid, that he did not expect that he should be called upon to pay any large portion of the interest during the present year. To some of the colonies the money would be advanced at once, and would commence bearing interest from the 1st of August; at the same time, certainly not more than half the sum stated would be required this year. But, in stating this, he was sure that the House would agree with him that this circumstance would not justify him in making a permanent reduction in the revenue. It was his duty not to look to the temporary charge, but to the permanent charge, when he made his financial statement. He should be unmindful of his duty as Chancellor of the Exchequer if he adopted the advice of the hot). Gentleman, and proposed a further reduction of taxation on such grounds.
§ The Report was agreed to.