ESTATE DUTIES
Incentive Policy fParliamentari/ Reporter) WELLINGTON, Sept. 1. The Labour Government had treated estate and gift duties as a disinheritance tax, whereas National Government policy had been to make this kind of taxation an incentive, said the Minister of Finance (Mr Lake) in Parliament this afternoon. He was replying to Opposition speakers in the second reading debate on the Estate and Gift Duties Amendment Bill, under which, according to Budget provisions, the exemption from death duties is increased to £15,000 in the case of a widow and £7OOO in the case of a widower. Mr Lake claimed that the Labour decision to charge 60 per cent on all amounts in excess of £30,000 was punitive. He reminded the House that, earlier in the debate. Mr M. A. Connelly (Opp., Riccarton) had stated that, if returned to power, Labour would “give attention” to this aspect.
Opposition voices: Discuss the 1965 bill. Mr Lake: I am entitled to point out the differences between National and Labour thinking on this point. The bill was read a second time.
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Bibliographic details
Press, Volume CIV, Issue 30846, 3 September 1965, Page 18
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176ESTATE DUTIES Press, Volume CIV, Issue 30846, 3 September 1965, Page 18
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