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"EXCESS PROFITS"

TERM IS A MISNOMER

COMPANY CHAIRMAN'S VIEW

"Surely the time has arrived when what is termed 'excess profits' should be dispensed with," said Mr. S. Irwin Crookes, chairman, at the annual meeting of the N.Z. Farmers' Fertiliser Company to-day. "The term is really a misnomer as the average individual interprets it as indicating undue or unfair profits."

Mr. Crookes added that the term "excess profits" was looked upon as a signpost of exploitation, whereas in fact it meant in many cases that some additional profit had been made over and above a "pegged average." This extra profit might be due to increased output above the year on which the pegged average had been calculated, and consequently led to inaccurate conclusions. .

A further item of taxation due for consideration, said Mr. Crookes, was a reduction in national security tax, which would improve the financial position of all, while it would also help industry and act as a stimulus to greater development. Taxation .bore heavily on most companies and it was felt some relief \yas now due.

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Permanent link to this item

https://paperspast.natlib.govt.nz/newspapers/AS19450808.2.72

Bibliographic details

"EXCESS PROFITS", Auckland Star, Volume LXXVI, Issue 186, 8 August 1945

Word Count
177

"EXCESS PROFITS" Auckland Star, Volume LXXVI, Issue 186, 8 August 1945

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