The Times of last Saturday published a letter in which
Lord George Hamilton criticised the Government estimate as to the yield of the new taxation. According to this estimate, the yield for 1909-10 will be £14,200,000, and the ultimate yield £18,480,000. Lord George Hamilton says that ie the first case the yield of all the proposed taxes is included, while in the second, where the yield is problematical, the whole product of the tax is omitted. The ultimate yield will therefore be much more than £18,480,000. According to his calculation, the ultimate yield will be over £25,000,000. Of this yield, indirect taxation will provide only £4,100,000, whereas there will be an additional taxation on property of over £18,000,000 a year. Lord George Hamilton protests against the allotment of the burden as manifestly disproportionate and inequitable. One class is "marked out for financial proscription."
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