Next come increased duties on motor-cars and motor-cycles, duties estimated
to bring in £800,000 a year. Up to sixteen horse- power the licence duty is to be doubled ; over sixteen horse-power it will be trebled. In the case of motor-cycles the tax will be £2 2s. up to four horse-power ; above that three-quarters of the duty on cars of light power will be levied. At present the Motor-Cycle Duty is £1. Considering that the motor-cycle, except for military purposes, is only a pleasure vehicle, we think it would have been much more reasonable to tax it exactly as other motors. Taken' all together, these Customs and Excise increases are expected to yield £21,450,000. That sum, added to the £43,500,000 which is to come from the Income Tax additions, gives Mr. McKenna £65,000,000. The Excess War Profits Tax is to be increased from 50 per cent. to 60 per cent., and this and the munitions levy on controlled establishments are expected together to bring in £86,000,000 a year. Mr. McKenna said that we were raising in the present year over £300,000,000 by new taxation.
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