WEALTH AND TAXATION.

Auckland Star, Volume XLVIII, Issue 179, 28 July 1917, Page 5

WEALTH AND TAXATION.

t)KCONSIBEKED ASPECTS. THE INTER-DEPENDENT FACTOR. (By Telegraph.—Parliamentary Reporter.). "WELLINGTON, Friday. "Some interesting remarks were -made by Sir Joseph Ward to-niglit relative to the question of the taxation sufficient to meet the heavy financial obligations of the country without imposing direct or indirect hardship on sections of the country not aimed, at by particular forme of taxation. "For instance," said the Finance Minister, "there is a material difference in imposing- taxation on everybody in proportion to their incomes and what has been Urged in this House and outside about taking wealth from the people of large means." This remark raised a chorus of protest from a number of members. "Well," eaid Sir Joseph Ward, "what is the position of nearly every man in New Zealand? One man has raised a mortgage, and another has lent money on mortgage to small people. Wealthy men may have incomes of £20,000 a year derived in this way, yet if you talk bout taking from that man his wealth you are not only going to ruin him, but also men who have borrowed money from him. I am referring to this only .for the purpose of attempting to dissipate what some people may theoretically tkiak is the right thing to do. This is" not the time when the Government of the country can indulge in experiments unless they are perfectly cure of the ground they are standing on; it is a time which calk for cohesion of aim among the people of every shade o£ opinion, for the common purpose. "Now about export, too," said Sir Joseph, "1 intimated the other day that we are not going in for an export tax. (Hear, hear.) If we put on an export tax it would mean that we should be taxing the productivity of the country, because we would be putting the man who sends his products out of the country in a position of 'being penalised as against the man who had not exported his produce." Members: That is right. Another Member: But you have expor< tax on gold. Sir Joseph Ward: That is because we did not want gold to go out of New Zealand as part of the British Empire, i and because the British Government, ■with four or five thousand millions they have had to raise for war purposes, wish to have the gold held in New Zealand regarded in the Old Country just as though it were in the vault of the Bank of England. The Finance Minister went on to indicate the Government's intention to deal more liberally with soldiers and their dependents. "We have learned a good deal since the beginning of the war," said Sir Joseph. " Amongst other things we have recognised that owing to the prolongation of the war and the extended trials of the. men, that in New I Zealand we have to do a great deal more for the soldiers and their dependents than practically anybody was prepared to do at the beginning." (Hear, hear.) He added that there would be no recrimination about securing the financial basis, and when the House knew what was available they could cut their coat according to their cloth. All important aspects of this question, such as allowances and pensions, had been considered by the Government, and if Ministers had not replied to criticisms in detail, it must not be accepted as a want of recognition on the Government's part of its responsibility. Its intentions, from a national standpoint in a national spirit, for a national purpose, would be shortly put before the members of the House.