On Thursday the Chancellor of the Exchequer introduced the Budget
in a speech of two hours' duration, marked by great lucidity. The main feature of the statement was that no taxes are to be increased or taken off. The revenue for the coming fiscal year it is estimated, will amount to £101,755,000. The expenditure is estimated at 2100,017,000. This leaves an estimated surplus of £1,708,000. This surplus will be disposed of in the following way :-2100,000 will be employed in a re- adjustment of the Land-tax, £950,000 will go to relieve agri- cultural rates, under a scheme to be introduced by Mr. Chaplin next Monday ; and the remaining £433,000 will be employed in providing for a slight adjustment of the Death- duties, for the extra grants for education, which will begin in the last quarter of the present year, and for the "margin" which is required in every Budget.
