In regard to finance, Mr. Lloyd George said that the
two Irish Parliaments would have all the Irish taxes, less a fair contribu- tion for Imperial services calculated for the time being on the figures for the present year. Out of Ireland's total revenue, £23,500,000 is now spent in Ireland, while £18,000,000 is spent on Imperial purposes. Imperial Parliament would grant a million to each local Legislature for initial expenses, and would transfer the land purchase annuities of three millions as a free gift. The Imperial Government would continue to collect Income Tax, including Excess Profits Duty, and Customs and Excise. The Prime Minister, in conclusion, asked Irishmen to give fair consideration to the proposals, which were dictated by wisdom and justice.