MORE BURDENS.

Auckland Star, Volume LXXI, Issue 127, 30 May 1940, Page 8

MORE BURDENS.

BRITISH PEOPLE. Ascending Expenditure Equal To Dangers Of The Time. EXCESS PROFITS RULED OUT. liril isli Olfielal Wireless. ( votl noon.) lU'tiliV. May 2ft. The Chiitiecllor oL' tlie lvx-chequer, Sir Kinsley Wood, moving the second reading of the Finance Bill in the lloti.se u|.' ('ominous, -;iii] he would shortly introduce a resolution, applying lo all trades and businesses the excess proliis tax to 1(11) percent with effect from April 1. 1 !)40.

lie lielieved. ill these times, it would accord with the general view that excess prolits in liii~ine~ses in wartime should lif ruled out i:l together, whether the business was eni;a,;;ed in war production or ot her act i\ it ies.

I'lie laijjcst sum in l>iiti-h history mis heiii;.' raised this year in taxation, hut H see lid i n expenditure eoiiltncnfiliate with the daiejer of the time must i■•r t;i inly lie contemplated. Sir Kiii'.'-ley expressed the eontidi'iiee that tlie.-e burden* would be borne tmlliticli• Xotliiii-r thai would help the nation at this time would lie allowed to si a ri.l in I lie wax.

In mi fur I In' iiiiniiiiit i ri|iiircd for I lII' \.l-l \\ a l l'\} If ■]< lil llll.' \va- not mot liy I il\,'l I inn it would lie met liy burrow'illlt mil. nf iln- genuine siivillus of the ci mini mi il \ . ]> I k <-ci I freely at I lie Stute's II i<|MISH I.

He 1 in|m-d Mini, recent action taken in mi ninny directions would make it easier for the |ieo|i)c to lend, and that, owing I o the i-In|>liiyincut, of more people in industry, I here would lie a steady rise in the \■■ 1 u 111 <.* ot salaries ami wages, which would nnioiiut. to n large sum. from which savings would lie available for the State.

Mr. Krncst llcvin. Minister of Labour, has issued a. statement asking employers and workers to cancel holidays lor the time being and await further guidance, suvs a Press Association messn ge.