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NOTE. As a reduction or repeal of duty as a rule leads to an increased consumption or use of the articles affected, the gain to the taxpayer is usually greater than the loss to the Revenue resulting from such reduction or repeal. (a) Approximate. No estimate was published.

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NOTE.-As an increase of duty may lead to a diminished consumption or use of the articles taxed, the gain to Revenue is not necessarily a measure of the burden of the increase on the taxpayer.

(b) Revised estimate allowing for changes made after the introduction of the Budget.

(e) Excluding 537,0001. formerly retained by Local Authorities in England and Wales, but now paid into the Exchequer.

(d) Budget Estimate as modified after the original proposal for a surtax of 50 per cent. ad valorem bad been altered to a surtax of 33 per cent.

(e) In a number of cases no calculations were made owing to abnormal conditions.

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NOTE.-As a reduction or repeal of duty as a rule leads to an increased consumption or use of the articles affected, the gain to the taxpayer is usually greater than the loss to the Revenue resulting from such reductions or repeal.

(a) A small gain of 50,000l. in 1921-2 was anticipated but it cannot be said whether this was realised, (b) The duty formerly exempted ordinary third-class fares, being leviable only on fares exceeding ld. per mile. This duty was suspended for nearly all railways from January, 1917, to August, 1921. During that period fares were raised, and to avoid making ordinary third-class fares liable to duty the basis of charge was altered to exclude such fares when the duty was again collected. In these circumstances there was strictly no loss of revenue.

(c) There was no loss of Excise revenue because none was expected if the duties had remained in force, but there is a loss of Customs revenue so far as duty free home-grown sugar and molasses displace dutiable imported sugar and molasses. The loss was estimated at about 175,0007. in 1922-3.

20th July, 1922

(c)

(c)

(e)

20th July, 1922
20th July, 1922

160,000

190,000

190,000

33,000

50,000

Not computed.

6th April, 1922 32,500,000

52,000,000

59,000,000

6th April, 1922

950,000

2,150,000

Not computed.

300,000

[blocks in formation]

NOTE.-A8 an increase of duty may lead to a diminished consumption or use of the articles taxed, the gain to Revenue is not necessarily a measure of the burden of the increase on the taxpayer.

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NOTE. As a reduction or repeal of duty as a rule leads to an increased consumption or use of the articles affected, the gain to thi payer is usually greater than the loss to the Revenue resulting from such reductions or repeal.

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