MAIN TOPIC.

Auckland Star, Volume LXXI, Issue 236, 4 October 1940, Page 3

MAIN TOPIC.

RAISING FINANCE.

EMPIRE DEFENCE.

EXCESS PROFITS TAX.

WELLINGTON, this day.

The method of raising finance for war purposes was the main topic of discussion in the House of Representatives yesterday, but just before the adjournment a review of the country's defence programme wa« given by the Minister of Defence, Mr. Jones.

The Excess Profits Tax Bill was introduced during the afternoon to give members an opportunity to study ite proposals before next week, but apart from a short explanation by the Minister of Finance, Mr. Nash, it did not

provoke comment

The remainder of the sitting was occupied by the debate on the war loan, war finance in general and regulations introduced because of the war, but there were times when general finance and other matters came into the debate.

While admitting that money must be raised compulsorily for war purposes Opposition menVbere argued that a great deal more could have been raised in the normal way before compulsion wae resorted to, and also contended that the method adopted by the Minister of Finance would cause undue interference with industry.

Government members said in reply that voluntary subscriptions had been tried, 'but interest free loans had fallen far short of the amount required.— (. arliamei ' -ry Reporter.)