This £870,000 Sir Michael Hicks-Beach proposes to obtain in the
following manner. He proposes, in the first place, to add to the Stamp-duties by requiring a transfer Stamp-duty of 5s. per £100 on the nominal value of all documents represent- ing foreign or Colonial bonds or shares which are not at present liable- to any duty under the. Stamp Act. The second proposal is to impose an ordinary Mortgage-duty of half-a- crown. in £100 on loan capital or debenture stock created by any corporation or company under statute. Further, he proposes two increases in existing Stamp-duties. The Com- Panies' Capital duty is now 2s. per £100, and he proposes to raise the rate to 5s. per £100. Then, with regard to letters of allotment and renunciation, he proposes to raise the Stimp- duty from ld. to 64. Next, the Wine-taxes are to be increased as follows :—to 18. 6d. a gallon on wine not exceeding 30 degrees, 3s. a gallon on wine between 31 and 42 degrees, and to increase the surtax on sparkling wine to 2s. 6d., and further to impose a duty of 3s. per gallon on still wine imported in bottles.
