. *. * *. * There are no new taxes
in the Budget—apart from taxes that are only eubstituted for existing—taxes:— unless it is right to describe as a new tax the higher licence duties charged upon brewers; distillers and tobacco manufacturers, in order to recoup the Treasury for the unnecessary derating of those industries. The Betting Tax is to be abolished at once: Last year it yielded only £2,250,000. In its place there will be, in addition to the present personal licence on all book- makers of £10, a new duty of £40 a year for .every book- maker's telephone. It is said that some bookmakers have as many as a hundred telephones. On the Totalisators there will be a tax of one half per cent. As for remissions of taxation pure and simple, there are several besides the tea duty. The repeal of the ancient Railway Passenger Duty will cost the Exchequer this year £800,000. We are at a disadvantage in writing before Mr. Baldwin announces his programme, but it is generally believed that he will enlarge upon this remission to the railways. Mr. Churchill, of course, exacts a pledge from the railway companies that transport shall be improved, but Mr. Baldwin may have an intensive policy to unfold. * * * *
