TAX REVENUE IN BRITAIN

Press, Volume LXXIX, Issue 23914, 5 April 1943, Page 3

TAX REVENUE IN BRITAIN

RECORD RETURNS OK INCOME LONDON, April S. Britain’s fiscal year’s income tax receipts for the first time topped £1,000,000,000, or more than £2O per head of population, which is approximately 25 times as great as the 19.13-14 figure, and three times that for 1938-39. Excluding the £225.000.000 Canadian contribution, Britain’s ordinary revenue from direct and indirect taxafiop and miscellaneous receipts for the yeepv just closed reached £2,595,000,000, or £54 per head. This represents 48 per cent, of the national expenditure, compared with 37 per cent, in the first full war year, but' financial pundits still think that taxation is inadequate in relation to the present expenditure of £15,500,000 daily, especially in view of the persistent pressure to force up wages. There seems to be fairly general agreement on the inflationary dangers of this pressure. Nevertheless, in fairness to the workers, it must be recorded that independent figures on prices just issued by the Oxford Institute, of Statistics suggest that at the beginning of 1943 the prices for goods other than food, tobacco, or drink, have soared between 75 and 100 per cent, since 1938. The institute estimates that civilian consumption a head of goods' other than food, drink, and tobacco, has been virtually' halvedovef this period. The Grey County Council has received a cheque from an Atarau settler covering part payment of his rates, with an accompanying request that the amount of the cheque be accepted in full settlement because of the deterioration of his property through erosion. The council decided to advise him that it has no power to remit portions of rates arid to suggest that he take step* to have the property revalued.