HC Deb 23 April 1903 vol 121 c252

What shall we do with it? That certainly is the most interesting portion of my task, and I think the most difficult. I think the surplus of lO¾ millions is a good deal larger than most people have expected, but it is less than one-third of the yield of the new taxes that have been imposed. I am very glad to think that the relief will be so substantial. The taxpayers of the country have borne their burden uncomplainingly. ["Hear, hear," "No, no," and laughter.] I see there are two or three Gentlemen opposite who do not agree with that statement, but I think I may say that, although the taxpayers have suffered, and suffered much, yet on the whole they have borne the taxation with equanimity, because they believed in the objects for which the taxes were required. But they are nevertheless looking forward with great anxiety to some relief from the burden of taxation, and I am glad to think that it is in my power to give it. It will be remembered that the duties on beer, spirits, tea, and tobacco have all been raised, and that new duties have been imposed on sugar, corn, and coal. These duties on commodities yielded last year £15,127,000. The Income Tax, representing the increase of direct taxation, was raised from 8d. in 1899 to 1s. 3d. last year, the extra 7d. yielding last year £18,107,000.