HC Deb 18 February 1805 vol 3 cc546-9

I proceed now, sir, to the Ways and Means for raising this supply; The first article is the duty on mall, and the personal estate duty, 2,750,000l. The next is the surplus of ways and means of the last year. Upon this subject, I think it necessary to give some explanation to the committee. It appears by the disposition paper which has been laid before the-house, that there is a surplus of 123,146l.—a sum of navy debt of upwards of 120;000l. There is also the sum of 931,000l. out of the vote of credit for the naval service, which is to be added to what was not called for by the end of December 1804. But as the demands upon the navy are paid in bills, and as bills encrease with the service, there is a larger sum of bills at the end of the year. The result therefore is, that there is a sum of upwards of 120,000l. not called for; 11,188,000l. was only called for, including the vote of credit of 931,000l. But still of course, though not called for, there is an increase of debt to that amount. But after all, there will remain a surplus of the Ways and Means of 1804, to the amount of 1,192,115l. It may here, sir, be proper to say, that the amount of the navy debt is less than it was at many periods of the former war.—The next article I proceed to is the surplus of the consolidated fund to the 5th April 1806. In considering this part of the subject, I shall pursue the plan of taking the amount of the permanent taxes for 3 years, and setting against, them the amount of the permanent charges. The total amount of the taxes for 3 years, exclusive of the years 1803 and 1804, which were years when additions were made to them, was 90,590,000l making on the average a sum of 30,199,000. for each year; m which are included the additional duties on sugars, malt and tobacco, which produced a large temporary amount, against which I set two millions of exchequer bills voted; this will make the average of each year 28,199,000. The duties imposed in 1803 and 1804 produced 1,315,000l. which will make the average 29,514,000l. But there is an addition to the consolidated fund of 1,381,000l. from Ireland, for that part of the debt with which she is charged; there are also two Other articles, which will make the whole sum to be added 2,866,000l. making the whole amount of average for each yearS2,381,000l. Against this I have only to state the sum of 28,032.000l. of permanent charge for us, that is, the interest of the debt, charges of management, & c. 26,692,000l. the Civil List, 960,000l; charges added to the consolidated fund, 380.000l. making altogether the sum I have stated of 28,032,000l. which leaves a sum of 4,349,000l. to be carried, as the probable amount of the consolidated fund. I have taken the average of 3 years, and taken also the deficiency of last year, arising from causes which I cannot but consider as temporary. It proceeded in a great measure from stock in hand having been taken in malt, spirits, tea, and wine. In the article of wine, this operated in a double capacity; for first, the duty was lowered, with a notice: that it would be encrcased at the end of the year. The consequence of this was, that persons, of course, laid in a larger stock before the increase took place. This deficiency arose, as I said, from causes in their nature temporary, and therefore I shall on a future day, propose to make the duty on wine permanent, having no reason to doubt that these fluctuations will cease. But after all, the total difference of the deficiency of last year, and the average of three years, is not more than 1,200,000l. Gentlemen, therefore, I am sure, will not be disposed to think this so great a fluctuation. But, sir, I shall only take credit for 4 millions, as the surplus of the consolidated fund to the 5th of April 1806.—The next article is the property tax, and the other war taxes. The war taxes were taken last year at 9 millions, but I shall take credit only for 8,300,000l. It must, sir, be a source of great satisfaction to the' country, that the war taxes are so likely to realize nearly the amount at which they were estimated. The property tax, I find, produced last year the sum of 4,600,000l. But the year 1804 has not received all its benefits, a part has not come in, and may be defrayed by Exchequer Bills; in like manner, what is granted for this year is applicable to the next year, and what may be due will remain for exchequer bills. Adding the 4,600,000l. this year to what is due, the amount under the head of property tax will be 6,300,000l I therefore take that as the amount of the property, tax for the present year. But still, sir, I feel it to be my duty, however reluctant I may be to do it, to propose to the country, (above the interest which it may be necessary to provide for the Loan), by a great exertion of its spirit and its vigour, to keep down as much as possible the accumulation, of the public debt: a system, the benefits of which are felt more and more every year, and which we had never more occasion to contemplate with satisfaction than we have at present, when we consider the terms on which we have negotiated the loan, which I arranged finally this morning; subject of course, to the approbation and ratification of this house. I shall now propose the addition of 1–4th, or 3d. in 1s. of the Property Tax, which I calculate will produce 1,150,000l. This will make the whole amount of the war taxes and property tax 15,750,000l. I addition to this I shall take credit for 300,000l by way of lottery. To this is to be added, the loan for England separately, of 20,000,000l. I will now recapitulate the different items of

WAYS AND MEANS.
Malt and personal estate duties. £.2,750,000
War Taxes. 8,300,000
New War Taxes. 1,150,000
£.9,450,000
Property Tax 6,300,000
15,750,000

Brought over £.18,500,000
Surplus consolidated fund to 5th April 1806. 4,000,000
Lottery 300,000
Surplus and ways and means, 1804. 1,192,115
Loan 20,000,000
Total ways and means 43,992,115
Total supplies. 43,690,419
This will he a surplus of ways and means beyond the supply of 301,696
There is a further sum for the service of Ireland, one million of which I propose to raise in Ireland, and 2½ millions an England; the 2½ millions will be on the same terms as the loan for the service of England, though the interest for that sum, as well as of the one million to be raised in Ireland, will be to be provided by Ireland.]

Forward to