FINANCE AND TRADE.

Bush Advocate, Volume XXI, Issue 300, 23 June 1909, Page 4

FINANCE AND TRADE.

,«. In the. Fortnightly He view, Mr J. Ellis Barker becomes pessimistic 'as to the financial outlook in -Great Britain. He thinks the United Kingdom i.< coming- to the. end of 'ts tether. He endeavors to show that it is by far the most highly taxed country in the world, that it is not the richest country, and that its wealth is stagnant, if not declining. Tlie corollary is that it will bo extremely dangerous for the workers of tho nation to increase still further ' tho taxation of tho rich. Such

taxes fall not on the wealthy few, but on the industries in which their money is invested.' Death duties are : an impost -on: -working ■■capital, and income tax is a permanent charge on production, and. therefore on wages. In the last resort all taxation falls on the masses of the . people. According to the German Minister of Finance the taxation per head in Great Britain is almost" exactly twice what it is in Germany. Kaufmann, who has carefully studied local taxation, declares that for every £1 paid under this head by the German, the I Englishman has to pay £2 -10s. In England taxation on drink and tobacco is five times as .high as it is in Gorma'ny. Mr Ellis Barker severely handles most of the "prosperity" arguments. British' national expenditure, has increased by. so jier cent, lithe last* lo yeairs, and Mr Ellis or five years' it must ex-^e ■'■ £200,000,000. Naturally his panaceas for all this are a. Unionist Gov- ■ eminent j" preferential trade, an Imperial .Parliament for the Empire, and the shouldering of the burden of defence by the colonies.