MR. WALPOLESir, before we go into Committee of Ways and Means, I wish to ask Mr. Chancellor of the Exchequer a Question of which I have given him private notice. It is, Whether he will give the particulars of the Duties to be paid in January next, under four heads—namely, Property and Income Tax, Land Tax, Inhabited House Duty, and Assessed Taxes?
§ THE CHANCELLOR OF THE EXCHEQUERSir, the property and income tax, which will be payable under the scheme of the Government, will be 1d. less than I took credit for, because in stating the matter that credit was taken when I assumed the income tax to be 6d., and we propose to reduce it to 5d. Therefore the amount of the property and income tax from Schedules A, B, and D, which we expect to receive in January, will be £1,500,000. As to the land tax and the house duty, which, as my right hon. Friend knows, come to pretty nearly the same amount—namely, between £1,000,000 and £1,100,000—we expect to receive the whole of them pretty well in that time. This is an excess of what they would have been if received in April of £950,000. As to the assessed taxes, the Excise licenses which are substituted for them, will amount, in round numbers, to £1,000,000. These are all receivable in that quarter, but I do not expect to receive above three-fifths, amounting altogether to £600,000. The three sums receivable in that quarter above the ordinary revenue will be £1,500,000 for property and income tax; £950,000 for land and house duty; and £600,000 for Excise licenses, which are to be paid instead of assessed taxes; amounting altogether to £3,050,000.