§ MR. COGHILL () Stoke-upon-Trent
I beg to ask Mr. Chancellor of the Exchequer whether an income-tax of 8d. in the £ is to form a permanent part of the policy of the present Government?
§ THE CHANCELLOR OF THE EXCHEQUER (Sir MICHAEL HICKS-BEACH,) Bristol, W.
No, Sir, I always live in hope; but I must confess that at the present moment my hope of a reduction of the income-tax is not very sanguine. A high rate of expenditure entails a high income-tax.