GERMAN FINANCE
INCREASED TAXATION PROPOSED MEETING REPARATIONS PAYMENTS DANGER OF CABINET SPLIT (United Press Association.—By Electric Telegraph.—Copyright.) (Australian Press Association.) Berlin, January 14. The Cabinet is considering the proposals of the Finance Minister, Dr. Hilferding, to cover-the Budget deficit of 500,000,000 marks, partly due to the increased reparations payment of 300,000,000 marks. Dr. Hilferding plans to increase the beer tax to the extent of 165,000,000 marks, spirits by 90,000,000, the capital tax by 104,000,000, the succession duty by 20,000,000, and the Post Office contribution by 26,000,000. He proposes to hold back payments th the States and Communes to the extent of 120,000,000 marks. Most of the proposals meet with serious opposition. The Bavarian People’s Party' threatens to withdraw its representatives from the Cabinet if the beer tax is increased. The States are opposing the withholding of the revenues, though Mr. Parker Gilbert, Agent-General for Reparations under the Dawes Plan criticised the present method of assigning them. Cabinet is expected to spend a week In discussing means of securing a compromise.
The many-sided opposition criticism has already made the increased taxation lead the outside world to overestimate Germany’s capacity to pay reparations.
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Bibliographic details
Dominion, Volume 22, Issue 95, 16 January 1929, Page 11
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191GERMAN FINANCE Dominion, Volume 22, Issue 95, 16 January 1929, Page 11
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