ntry. How easy it would be
for us to escape from all this abuse if we were to put the extra
taxation entirely upon the wages of the working classes by means of
taxes on bread and on meat. In a moment the scene would change, and we
should be hailed as patriotic, far-sighted Empire-builders, loyal and
noble-hearted citizens worthy of the Motherland, and sagacious
statesmen versed in the science of government. See, now, upon what
insecure and doubtful foundations human praise and human censure
stand.

Well, then, it is said your taxes fall too heavily upon the
agricultural landowner and the country gentleman. Now, there is no
grosser misrepresentation of the Budget than that it hits the
agricultural landowner, and I think few greater disservices can be
done to the agricultural landowner, whose property has in the last
thirty years in many cases declined in value, than to confuse him with
the ground landlord in a great city, who has netted enormous sums
through the growth and the needs of the population of the city. None
of the new land taxes touch agricultural land, while it remains
agricultural land. No cost of the system of valuation which we are
going to carry into effect will fall at all upon the individual owner
of landed property. He will not be burdened in any way by these
proposals. On the contrary, now that an amendment has been accepted
permitting death duties to be paid in land in certain circumstances,
the owner of a landed estate, instead of encumbering his estate by
raising the money to pay off the death duties, can cut a portion from
his estate; and this in many cases will be a sensible relief.
Secondly, we have given to agricultural landowners a substantial
concession in regard to the deductions which they are permitted to
make from income-tax assessment on account of the money which they
spend as good landlords upon the upkeep of their properties, and we
have raised the limit of deduction from 121/2 per cent. to 25 per cent.
Thirdly, there is the Development Bill--that flagrant Socialistic
measure which passed a second reading in the House of Lords
unanimously--which will help all the countryside and all classes of
agriculturists, and which will help the landlord in the country among
the rest. So much for that charge.

Then it is said, "At any rate you cannot deny that the Budget is
driving capital out of the country." I should like to point out to you
that before the Budget was introduced, we were told