TAXATION ON SHIPPING

Press, Volume XCIII, Issue 27992, 12 June 1956, Page 17

TAXATION ON SHIPPING

OWNERS SEEK RESPITE

REGISTRATION OUTSIDE BRITAIN URGED

(Special Correspondent N.Z.P.A.) LONDON, June 11

Two countries in the British Commonwealth, Bermuda and Jamaica, have extended invitations to British shipowners to consider taxation advantages which would follow the establishment of companies in those countries.

Discussing these offers, Viscount Simon, deputy-president of the Chamber of Shipping of the United Kingdom. said a number of British shipowners were looking very seriously into the question of forming companies in the Commonwealth. The Jamaican Finance Minister, who will shortly be visiting Britain, had indicated he would be happy to meet shipowners and discuss the question. Lord Simon pointed out that if a company was formed in a Commonwealth country such as Bermuda it would not be necessary for the ship to be registered there. The port of registry could be anywhere within the Commonwealth—London, for example. He added many owners were concerned over the growing problem of competition from tonnage operating under such “tax-free” flags of convenience as Panama and Liberia and were anxious to investigate the advantage® or , disadvantages of registration of British ships within a low-tax Commonwealth country. Lord Simon said a survey by the International Chamber of Shipping of the causes of the growth and implications of flags of convenience would be published shortly. The document would set out advantages from the point of view of relief from taxation which shipowners enjoyed when they registered under flags of such countries as Liberia and Panama.

NEW ATTACK ON WOOL TAX

DISCUSSION SOUGHT IN COMMONS

(Special Correspondent N.Z.P.A.) LONDON, June 11

A fresh attack upon the wool cloth purchase tax in the United Kingdom is being made by seven members of Parliament, all from the West Riding of Yorkshire.

Mr Geoffrey Hirst, member for the wool town of Shipley, has tabled an amendment to the Finance Bill pressing for a cut in the 10 per cent, tax on wool cloth. This amendment takes the form of a new clause, substituting the figure “one-half of one per cent.” for “ten per cent,” in a section of the 1948 Finance Act, under which the tax operates. Mr Hirst states that his aim is to provide the opportunity for discussing in the House, the purchase tax discrimination against wool fabric when sold as piece goods. The nominal figure of “one half of one per cent.” is suggested for reasons concerned with the technical procedure of the House.

BUTTER SALES IN BRITAIN

COSTS OF ADVERTISING TO BE SHARED

(New Zealand Press Association) WELLINGTON, June 11. The British Milk Marketing Board has agreed to join in the efforts of the Butter Information Council and to share with New Zealand, Denmark and Australia the cost of the special butter advertising campaign now running in Britain, said the chairman of the New Zealand Dairy Products Marketing Commission (Mr W. Marshall). New Zealand, • Denmark and Australia, through the council, had hitherto borne the whole cost of nonnational butter advertising in Britain, said Mr Marshall.

The council had originally scheduled an advertising programme to cost £44,000 for 1956, but at New Zealand’s suggestion a special additional campaign was recently approved by the three countries on the council and by Britain as represented by the Milk Mar ketmg Board. It would cost £85,000. The money was being spent principally on advertising in the national newspapers. The campaign would be at its peak during the summer months. STOCK SALES PLEASANT POINT "The Press” Special Service „ , , TIMARU, June 11. Values showed little change on last week’s increased rates for the 35 head of fat cattle offered at Pleasant Point stock sale today. More than two races of fat sheep and 500 fat lambs met a firm demand from butchers and exporters, with values showing no change. The inquiry for wether lambs was keen in the small yarding of store sheep, made up for the most part of small lots. Wether lambs appreciated 6s to 8s a head. Values were:— Fat Cattle.-*Fat steers, good £3l 2s 6d to £36 11s 6d, light to medium £9 7s 6d to £25 12s 6d. Fat heifers, good £2O 2s 6d 12s 6d - to medium £2O » s t° £ 26 12s 6d - hght to medium £l2 6t ? to £lB 7s 6d. Fat cows, good £22 2s 6d to £2B 17s 6d, light to medium £8 2s 6d to £l4 17s 6d.

Fat Sheep.—Fat wethers, good 78s id to 82s Id, light to medium 48s Id to □Bs lOd. Fat ewes, good 44s Id to 50s Id, light to medium 21s lOd to 28s lOd. Fat lambs, good 68s Id to 70s Id, medium 54s Id to 62s lOd, light 43s lOd to 50s Id. Store Sheep.—Shorn ewe lambs to 57s 6d. shorn wether lambs to 32s 6d, Romney oJ° SS r.j e^ e lambs 56s to 60s. wether lambs ♦ J° 45s 6d ’ two-tooth wethers 39s to 60s, full-mouth ewes 34s to 44s 6d.

HORTICULTURAL CLASS EQUIPMENT

DEPARTMENT REFUSES GRANT An application for a grant for a motor cultivator and other teaching equipment for horticultural classes at Linwood High School has not been approved by the Education Department. The Assistant-Director of Education (Mr C. G Ellis) said in a letter to the secretary to the school board of governors (Mr P. J. Halligan) that the application might be reconsidered later. The course could not be developed until equipment was provided, said the headmaster (Mr B. H. Wakelin) when the letter was read at a meeting of the school board of governors last evening. Two classes of girls were taking the horticultural course as part of general science work as well as a class of boys, who took it as a craft hobby. The area worked is about a third of an acre. “They can’t spend all their time digging," he said.