LEVY ON CAPITAL.

Auckland Star, Volume L, Issue 252, 23 October 1919, Page 5

LEVY ON CAPITAL.

FAVOURED BY ASQUITH. MAKING "WARTIME FORTUNES. JEW FINANCE SYSTEM NEEDED By Cable.—Press Association.—Copyright.) (Received 9.45 a.m.) LONDON, October 22. Mr. Asquith, at a meeting in the Ccnral Hall, vigorously attacked the Government's lack of settled policy. "Every iJinister was a law unto himself," lie laid. Referring to Russia, he said that on tehalf of tlie principles for which we ought, which professedly the Treaty ■mbodies. he protested against the emiloyment of money, resources, and men « the settlement of a purely domestic ruestion. Dealing with finance, lie demanded :hat the Government produce a new Budget. It was useless, he proceeded, ivith tinkering and sham preference; in the long run the only result was loss of revenue and increase of pricesThe country was not bankrupt, and it vvas not poor. New sources of taxation must be discovered and utilised. The large accumulations of wealth made in wartime should in justice and equity i>e the primary contributors to relief of the war debt. An expert inquiry regarding a capital levy was an absolute necessity.— (A. and N*.Z. Cable.) MUSHROOM WEALTH. PROFITEERS MUST DISGORGE. LONDON, October 22. The Government is faced with increasing demands to combine heavier levies on '"mushrocVn" wealth with rigid economy in the expenditure. The "Times" says, editorially: "Ignoble war profiteers, enriched beyond the dreams of their selfish avarice, flaunt tlveit shameful gains before all eyes, justly disdainful of the Premier's earlier promises to compel them to disgorge. The country expects Parliament to do its duty without slavish adherence to any political banner."—(United Service.) Sir Donald Maclean, M.P. for Peebles and Southern (Scotland) and chairman of the Asquith party, speaking to his constituents last week, emphasised the inevitability of increased borrowing to balance accounts for the current year The deficit for the past six months was £251,000,000, exceeding by £00.000,00 C Mr. Austen Chamberlain's estimate:! deficit for the whole year. Independent Liberals, he said, would press for revised Army and Navy, Air Force, and Civi Estimates. The situation was serious and warranted an interim Budget.