§ Mr. Milner Gibsonbelieved that he had the permission of the right hon. Baronet at the head of her Majesty's Government to repeat a question which he had already put. It was, whether it were the intention of Government to extend the Income-tax to persons receiving annuities from the consolidated fund, under the operation of particular acts of Parliament?
§ Sir Robert Peelapprehended that the measure which he had proposed subjected to the Income tax all salaries and all annuities, received by any of the subjects of her Majesty; all incomes, however, paid out of the consolidated fund would be subject to a reduction of the duty of 3 per cent. He would take this opportunity of making a communication, which he was sure would be received with much satisfaction by the House. When, on the part of the Government, he had intimated to her Majesty, that her servants were of opinion that the financial difficulties of the country were such as to make it desirable to submit, although in time of peace, the incomes of her Majesty's subjects for a limited period to a tax of 3 per cent., her Majesty, prompted by those feelings of deep and affectionate interest in the welfare of her people which she had ever manifested, stated to him that if the financial condition of the country was such that, in a time of peace, Parliament should think it necessary to subject all incomes to a certain charge, it was her determination that her own income should be subjected to a similar burden.
§ Mr. Ricardoasked whether incomes derived from terminable annuities would be subjected to the same rate of taxation as income derived from permanent annuities.
§ Sir Robert Peelbegged the question might be deferred until Friday, when the subject would come on for discussion regularly. It was not that he had any 660 doubt with reference to the answer which he should give, but it was a most inconvenient course continually to draw the attention of Government to a question not strictly before it.
§ Subject at an end.