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TAXATION OVERHAUL BUSINESSMEN'S VIEW I "The business community feels that the time is long overdue for a : general overhaul of taxation," said : Mr. H. J. Lichtenstein, president of ' the Auckland Chamber of Comi merce, in commenting on the ■ Budget. "The fact that the Minister . has agreed to investigate injustices ' and anomalies is an admission of 1 this need. In view of the reduction > in war expenditure it could be rea- ) sonably expected that the National ■ Security tax would be reviewed and other reliefs given where they are • sorely needed. Taxation relief is • absolutely essential to provide a > healthy incentive for the encourage- . ment of work and enterprise." L Failure to adapt the country's ■ finances to the improved war situa- ■ tion and to the post-war industrial ■ prosperity which the Government ' so much desired, was the dominant ■ feature of the Budget, declared Mr. ' Lichtenstein. "This is similar to the change ■ introduced in Britain and will assist ! in bringing industrial plant up to 1 date and expanding production," ■ said Mr. H. 11. Rodwell, acting-pro- ■ fessor of economics at the Auckland '' University College, in commenting upon the proposed special deprecia- ■ tion allowance to aid new industries. > New Zealand's prosperity de- ; pended on primary exporting indus- ! tries which sold in the world's ■ markets, added Mr. Rodwell, and the ' prices of goods produced by the sec- ■ ondary industries had to be kept at ; a level which allowed the primary 5 industries to tlevelop. Manufacturing - costs had also to be low enough to permit of a reasonable standard of > living for the people. Protective measures should not be used to protect high cost industries.

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Bibliographic details

"SORELY NEEDED", Auckland Star, Volume LXXVI, Issue 188, 10 August 1945

Word Count

"SORELY NEEDED" Auckland Star, Volume LXXVI, Issue 188, 10 August 1945