SOME WISE REMISSIONS.
As regards the general Estimates of Revenue, it is also felt that the Chancellor has been unusually sanguine, especially as regards the Estate Duties and the revenue from stamps which were exceptionally large during last year. The enormous allocation of over £15,000,000 to Revenues is felt to be the adoption on a small and, therefore, sounder scale of Mr. Lloyd George's proposals with regard to employment on the roads, but other concessions by the Exchequer, including the remission of the Tea Duty, are considered to be well conceived and justified by all the circumstances of the case. Especially as regards the remission of the Railway Passenger Duty it is felt that while the loss to the revenue of some £400,000 annually is small the capitalizing of that sum by the railways will mean the expenditure of over £6,000,000 in improving goods transport facilities, thereby giving a further impetus to trade improvement.
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