The Finance Bill was discussed in Committee on Tuesday. In
the course of the debate Mr. Austen Chamberlain, who was cordially received on his return to the House, subjected Mr. Asquith's Budget to a general criticism on the ground of its timidity. The Chancellor of the Exchequer, Mr. Chamberlain asserted, had underestimated the probable tax revenue in the current year. He might very well have done more for the tea-drinkers and reduced the Debt, or he might have relieved the taxpayers; instead of which he had frittered away his surplus in unsatisfactory remissions. Later on Mr. Austen Chamberlain condemned the reduction of the special duty on stripped tobacco, as inconsistent with the retention of other Protective duties on tobacco. Mr. McKenna defended the charge on the ground that the threepenny duty, if con- tinued, would be unproductive; and Mr. Asquith repudiated the charge of inconsistency. He did not deny, and never had, that our Tobacco-duties were in part Protective; but they had been in existence for many years, their Protective character bad been greatly exaggerated, and " to drag them up by the roots" would cause great confusion.
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