The best possible system for Irish financial reform is adherence to the
principles of the Act of Union. The constitution, as settled by the Act
of Union and the Supplementary Act for the amalgamation of the
Exchequer, contemplated that each of the three Kingdoms should
contribute by "equal taxes" to the Imperial Exchequer. "Equal taxes"
were to be those which would press upon each country equitably in
proportion to its comparative ability to bear taxation. These taxes were
to be imposed subject to such exemptions and abatements as Scotland and
Ireland should from time to time appear to be entitled to. If their
circumstances should so require, they should receive special
consideration.
All the revenues of England, Scotland and Ireland, wherever and however
raised, when paid into the common Exchequer, form one consolidated fund.
The Act for the consolidation of the Exchequers directs that there shall
be paid out of the common fund "indiscriminately" under the control of
Parliament all such moneys as are required at any time and in any place
for any of the public services in England, Scotland, Ireland or
elsewhere in the Empire.[76] Such payments are to be made without
consideration of anything but necessity. They are to be without
differentiation on the ground of the locality of the expenditure, or of
the relative amount of the contributions to the common chest of
England, Scotland or Ireland. All expenditure is alike "common";
whatever its object may be, civil, naval or military or foreign, it is
all alike "Imperial," and all of it is under the constitution
"indiscriminate." The whole United Kingdom forms one domain, and but one
area for the purposes of expenditure. As long as the Act of Union lasts
no one of the three Kingdoms can be said to be "run" either "at a loss"
or "at a profit." They are all run together as one incorporate body. The
common revenue balances the common expenditure, and they bear together
one another's burden and the weight of Empire.