LEVY ON CAPITAL.

Auckland Star, Volume LI, Issue 117, 17 May 1920, Page 5

LEVY ON CAPITAL.

REPORT OF COMMITTEE. PRACTICABLE, BUT TTKSOTJWD. (Received 0.30 a.m.) LONDON, May 16. The committee appointed to co.usidcr the practicability of a levy on war wealth has reported affirmatively. It suggests that it could best be "carried out by the adoption of the Inland, lievenue Board scheme, estimated to yield £550,000,000, affecting seventyfive thousand persons. The committee, however, strongly hold out that the principle of a lev)- on capital which is involved i≤ unsound, and will harm industry. The opinion in business circles appears to favour continuance of the excess profits duty more than the war levy as hkely to involve les* disturbance to inOUstry. The Associations of Chambers of Commerce strongly protest against we levy.—(l.X.P.A.) ITALIAN CRISIS. SEARCH FOR A CABINET. (Received 10.30 a.m.) ROMEj May lfi. t-ndeavours to arrange a compromise fftween Signor Nitt- ex-Premier, and oignor Heda, head of the Catholic party, w the formation of a Cabinet failed. £oc King invited Shrnor Bonorui, a ™c;ali3t Reformist, Inform a Ministry. His success is doubtful.—(A. and N.Z.j BARRY \U SYDNEY. SYDNEY, May IC. Ernest Barry, the English sculler and et-world's champion, has arrived. He "M an enthusiastic reception. He is in splendid condition, and intends to do "is utmost to regain the world's, championship. 34 proposes comp.=tin E in a "Wdioip a t the end of August. A- Baynes. of Queensland, won the «na.teur Rculling championship of Aus- ""«. at Brisbane. .South Australia won ?'eight-oared championship.—(A. and *•*• Cable.)