CLOTHING COST
TAX REDUCTION EFFECT
(P.A.) WELLINGTON, This Day. Commenting on the effect of the abolition of the sales tax on the prices of clothing, the Minister of Finance, the Hon. W. Nash, said to-day that the estimated reduction in revenue, from a complete abolition of -sales tax on the articles referred to exceed £2,300,000 yearly, and that adjustments of subsidies amounted to £300,000 yearly. By so giving effect to the reduction on sales tax, it would mean a lowering of all clothing prices by at least £2,000,000. He had not the® slightest doubt that the clothing trade and the price tribunal would make arrangements to ensure that the public reaped the full benefit of the reductions.
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Bibliographic details
Ashburton Guardian, Volume 66, Issue 268, 24 August 1946, Page 6
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117CLOTHING COST Ashburton Guardian, Volume 66, Issue 268, 24 August 1946, Page 6
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