Death Duties would be raised by increases varying from 1
per cent. on estates of £12,500 to £15,000, to 5 or 6 per cent. on estates from £85,000 to £200,000, decreasing thereafter to 1 or 2 per cent. on estates up to £1,000,000 ; above that there would be no change. The increased Death Duties were estimated to bring in £4,500,000 this year and £10,000,000 in a full year. There would be increased Preferences on dried fruits, sugar, tobacco and wine. We have no objection to these Preferences because they take the form of reduction of duty and have the character of Free Trade rather than of Protection. If these Preferences were regarded as controversial, however, Mr. Churchill next made a more controversial proposal when he announced new duties on silk, artificial silk, and hops, and the reimposition of the McKenna duties on motor cars, musical instruments, clocks, watches and cinema films.
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