5 MAY 1917, Page 3

Mr. Boner Law introduced his first Budget on Wednesday in

a concise and able speech. In the last financial year the revenue amounted to £573,428,000, but this year, by increasing the Excess Profits Tax, the Tobacco Duty, and the Entertainments Tax, he hopes to. raise £638,600,000, towards a total expenditure of £2,290,381,000. His speech, on which' we comment elsewhere, illustrated anew the financial strength of Great Britain. There will be general regret, however, that he restricted so narrowly his proposals for fresh taxation.